Which trade condition/message should we use to determine the official Opening and Closing price for a stock?
The Nasdaq Official Opening Price (NOOP) and Nasdaq Official Closing Price (NOCP) sales conditions below can be used to identify Nasdaq’s Official Opening and Closing Prices for a stock.
For Nasdaq-listed instruments, the NOOP and NOCP will be:
- If an auction occurs, the price executed in the Nasdaq Cross
- If no auction occurs, a reprint of the last eligible transaction executed on Nasdaq
- For illiquid ETFs that do not have an auction, Nasdaq closes the market using a proprietary algorithm to increase price transparency: Enhanced Closing Price for ETPs FAQ
For Non-Nasdaq-listed instruments, the NOOP and NOCP will be the reprint of the last eligible transaction executed on Nasdaq.
Please Note – Odd Lot trades are not eligible for last sale calculations; however, they can set the NOOP and the NOCP when there is an odd lot closing cross.
In addition to these values, 15 minutes after the conclusion of the trading day, Nasdaq will send the “EOD Trade Summary” message on the market data products. These values are the Official Prices from the “Consolidated Tape,” which will provide any updates to Official Open and Close Prices to both Nasdaq and Non-Nasdaq-listed securities.
Using both the NOOP and NOCP messages, as well as the EOD Summary Messages, will provide the most accurate and cost competitive solution for identifying the official open and close prices for all US instruments, regardless of listing market