Nasdaq Closing Cross Calculates Russell US Indexes Reconstitution for the 14th Consecutive Year
(Thomson Reuters ONE) -
A new record $28.9 billion traded at the closing cross in a Russell
reconstitution
NEW YORK, June 23, 2017 (GLOBE NEWSWIRE) -- Nasdaq (Symbol: NDAQ) today
announced the Nasdaq Closing Cross was used for the 14(th) consecutive year to
rebalance Nasdaq-listed securities in the entire family of Russell US Indexes,
part of leading global index provider FTSE Russell, during its annual
reconstitution. More than 972 million shares representing a record $28.9 billion
were executed in the Nasdaq Closing Cross in 0.861 seconds across some 2,499
Nasdaq-listed stocks. The previous record for dollars traded at the closing
cross in a Russell reconstitution was $21.1 billion in 2015.
"For the 14th consecutive year of partnering with FTSE Russell on the rebalance,
we witnessed the advanced capabilities and market integrity of Nasdaq's INET
technology platform resulting in transparent and efficient price discovery which
benefits issuers and investors alike," said Tom Wittman, Head of Global Equities
and Executive Vice President of Global Trading and Market Services at Nasdaq.
"Each year the rebalance is an important liquidity event to ensure that the
Russell US indexes accurately reflect the ever changing state of the US equity
market and its industry segments."
"We are excited to enter another annual reconstitution process for the Russell
indexes," said Ron Bundy, CEO, Benchmarks, North America, FTSE Russell. "It is a
significant event for the US equity market, closely watched by market
participants and a central part of maintaining the integrity and relevance of
our leading set of US benchmarks. And we are grateful to have enjoyed such a
longstanding and successful association with Nasdaq around the annual Russell
rebalance to help make it a transparent and smooth market event every year."
The Closing Cross brings together the buy and sell interest in specific Nasdaq,
NYSE and NYSE MKT stocks and executes all shares for each stock at a single
price, one that reflects the true supply and demand for these securities. All
nationally-listed securities are eligible for the Nasdaq Closing Cross.
All Russell U.S. indexes are subsets of the Russell 3000(®)Index, which
represents approximately 98% of the U.S. equity market. Russell US Indexes allow
investors to track current and historical market performance by specific market
segment (large cap/small cap) or investment style
(growth/value/defensive/dynamic). Approximately $8.5 trillion in assets are
benchmarked to the Russell indexes.
Russell reconstitution day is usually one of the most highly anticipated and
heaviest trading days in the U.S. equity market as asset managers seek to
reconfigure their portfolios to reflect the composition of Russell's U.S.
indexes. The index reconstitution process was completed today and the newly
reconstituted index membership will take effect when markets open on Monday,
June 26, 2017.
Please visit our website for more information on the Nasdaq Closing Cross.
About Nasdaq:
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange
technology, listing, information and public company services. Through its
diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and
execute their business vision with confidence, using proven technologies that
provide transparency and insight for navigating today's global capital markets.
As the creator of the world's first electronic stock market, its technology
powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's
securities transactions. Nasdaq is home to 3,800 total listings with a market
value of $11 trillion. To learn more, visit: http://business.nasdaq.com
About FTSE Russell:
FTSE Russell is a leading global index provider creating and managing a wide
range of indexes, data and analytic solutions to meet client needs across asset
classes, style and strategies. Covering 98% of the investable market, FTSE
Russell indexes offer a true picture of global markets, combined with the
specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional
and retail investors globally. More than $12.5 trillion is currently benchmarked
to FTSE Russell indexes. For over 30 years, leading asset owners, asset
managers, ETF providers and investment banks have chosen FTSE Russell indexes to
benchmark their investment performance and create investment funds, ETFs,
structured products and index-based derivatives. FTSE Russell indexes also
provide clients with tools for asset allocation, investment strategy analysis
and risk management.
A core set of universal principles guides FTSE Russell index design and
management: a transparent rules-based methodology is informed by independent
committees of leading market participants. FTSE Russell is focused on index
innovation and customer partnership applying the highest industry standards and
embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements include, but are not limited to, statements about
Nasdaq and its products and offerings. We caution that these statements are not
guarantees of future performance. Actual results may differ materially from
those expressed or implied in the forward-looking statements. Forward-looking
statements involve a number of risks, uncertainties or other factors beyond
Nasdaq's control. These factors include, but are not limited to factors detailed
in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S.
Securities and Exchange Commission. We undertake no obligation to release any
revisions to any forward-looking statements.
NDAQG
Nasdaq Media Contacts:
Joseph Christinat
+1 646 441 5121
Joseph.Christinat(at)nasdaq.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nasdaq via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 24.06.2017 - 01:52 Uhr
Sprache: Deutsch
News-ID 549612
Anzahl Zeichen: 7200
contact information:
Town:
New York
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 323 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Nasdaq Closing Cross Calculates Russell US Indexes Reconstitution for the 14th Consecutive Year"
steht unter der journalistisch-redaktionellen Verantwortung von
Nasdaq (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
