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Gates Are Down On Market Close Orders

Traders Magazine, April 2003

Peter Chapman

Marking the Nasdaq close just got harder. Nasdaq has sharply reduced the amount of time it allows its members to report their last trade of the day from 90 seconds to two seconds. In addition, if the last reported trade in a given security is away from the inside, Nasdaq will deem the trade to have occurred at either the best bid or offer.

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