How is the daily opening price and closing price of the US stock market being determined?

Here are some relevant details about Nasdaq opening and closing crosses: 

Nasdaq accepts on-open and on-close order types that are executable only during the Opening or Closing Cross, respectively. 

• Leading up to an open or close, Nasdaq disseminates information about any order imbalance that exists among orders on the opening or closing book, along with an indicative opening or closing price. 

• In the Cross process, the opening or closing book and the Nasdaq continuous book are brought together to create a single Nasdaq opening or closing price. 

• Nasdaq opening and closing prices are distributed to the consolidated tape immediately after the Cross occurs. 

 

For more information, please visit: https://www.nasdaqtrader.com/content/productsservices/trading/crosses/openclose_faqs.pdf 

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