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🚨 MARKET SHOCKER: Nasdaq Unveils Game-Changing Price Protections! 🚨

On July 14, 2025, Get Ready for a Revolutionary Shift!

Hold onto your wallets, folks! The Nasdaq Stock Market is set to launch an electrifying overhaul to its halt cross process that will send shockwaves through the trading world! This jaw-dropping enhancement brings price protections that will forever change the way stocks are handled during trading halts.

What’s the Scoop?

Brace yourselves! Nasdaq is rolling out new price collars that will dictate the auction prices during halts—aligning it with other buzzing auctions like the opening and closing cross! These collars will be unveiled through the Nasdaq TotalView ITCH, and trust us, you’re going to want to pay attention!

How Will It Work?

Here’s the lowdown: At the start of the auction quoting period, Nasdaq will whip up upper and lower collars by calculating a mind-blowing 10% of the reference price. If the reference price sticks to these collars by the end of the quoting period, all matched orders will execute, while the unfulfilled orders get yanked back to customers—poof, gone!

But wait, there’s more! If the auction price goes wild and breaks free from these collars, a nail-biting 5-minute second quoting period will kick in. And hold your breath: those collars can widen again like a rubber band! If the chaos continues, they’ll stretch another 20% every 5 minutes until the price finally plays nice and fits between those boundaries.

Why is Nasdaq Cranking Up the Drama?

Simple! Nasdaq is on a mission to ensure that when stocks re-open, they’re at prices that actually make sense! This strategic move aligns the halt cross process with other auction tactics, putting trader fears to bed.

Who’s Gonna Feel the Heat?

Two major market data products are in the spotlight here:

• Nasdaq TotalView
• Nasdaq TotalView Aggregate

Rest assured, the structure of messages won’t change, but how you interpret them is set for a wild ride! Buckle up, traders!

Get Your Game Face On! Testing Opportunities Are Here!

If you’re itching to experience the action before the chaos officially kicks off, testing is underway in the Nasdaq Testing Facility (NTF)! Mark your calendars for explosive testing dates on June 7th and July 12th!

Don’t get left in the dust—prepare now for the wild ride ahead!