On Saturday, December 14, 2024, the NYSE, NYSE American, NYSE Arca, Nasdaq, and Cboe BZX will collaborate on testing contingency closing procedures. These procedures will be implemented if a marketplace disruption hinders the primary listing exchange from conducting its closing auction.
- If the Exchange identifies before 3:00 p.m. that it cannot carry out a Closing Auction for one or more listed securities due to technical issues, it will appoint an alternate exchange to establish the official closing prices for its listed securities and initiate closing auctions.
- If the Exchange finds that it cannot perform a Closing Auction for one or more securities after 3:00 p.m. due to technical issues, the Official Closing Price for each affected security will be the Volume Weighted Average Price (VWAP) of the consolidated last-sale eligible prices during the last five minutes of Core Trading Hours preceding the time the VWAP is processed.
During the test on December 14th, NYSE, NYSE American, and NYSE Arca will select Nasdaq as the alternate exchange for executing the closing cross for listed securities, simulating an event disruption before 3:00 p.m. The contingency closing auction testing will begin at 11:00 a.m., and all symbols will be available for testing.
Timeline for the test on December 14, 2024:
| 11:00 a.m. | NYSE, NYSE American, and NYSE Arca systems will stop operating and announce their inability to conduct a closing auction. |
|---|---|
| 11:00 a.m. – 12:00 p.m. | Nasdaq will begin accepting on-close orders for securities listed on NYSE, NYSE American, and NYSE Arca. Firms are encouraged to submit on-close orders. |
| Starting at noon |
Nasdaq will execute a closing cross for eligible securities, and the SIP will publish the closing prices. 
|
Regular Trading Hours will end at 12:00 p.m. on Saturday, December 14, 2024.
Testing Symbols for December 14, 2024:
- NYSE Listed Securities: F, GOLD, NIO, PFE, and ORCL
- NYSE American Listed Securities: ACU, CVU, LEU, NEWP, and SEB
- NYSE Arca Listed Securities: EEM, DFUS, KOLD, UNG, and XOP
Firms are encouraged to participate to enhance future preparedness by sending orders to the designated alternate Exchange for each test date. For further information, please reach out to Nasdaq Trading Services at 212-231-5180.
Firms must register for testing on Saturday by contacting Nasdaq Trading Services by 12:00 p.m. (ET) on the Friday before the Saturday test in which they wish to participate. Please include the system(s) you plan to test in your registration email. The 2024 Saturday Test schedule is available on the Saturday Testing Policy Page, which also includes a comprehensive list of products and systems accessible during the test dates.
