The Nasdaq Omx Group, Inc.

Timothy E Cox

Peter J Martyn

Daniel F Moore

Adam Seth Nunes

Frank Hatheway

Dan Barnard Franks

Michael E Edleson

Thomas J Davin, Iii

James T Platts

Timothy McCormick

James M Lastoskie

Oliver Albers

A method, executed in a computer system, for opening an electronic market for trading of a security is described. The method includes receiving by the computer system eligible orders and quotes for the security traded in the electronic market and disseminating an order imbalance indicator indicative of predicted trading characteristics of the security at the open of trading. The method also includes determining by the computer system a price or prices at which the maximum shares would be executed and determining which price would minimize any imbalance of eligible orders and executing at least some of the eligible orders at the determined opening price.

Opening cross in electronic market

A method for trading a security in an electronic market includes receiving closing orders and orders for the security traded in the electronic market, disseminating an order imbalance indicator indicative of predicted trading characteristics of the security at the close of trading, determining a closing price for the security based on the closing orders and orders, and executing at least some of the closing orders at the determined closing price.

Closing in an electronic market

A method for determining a closing price of a security traded in an electronic market includes receiving a trade price of an executed trade of the security wherein the executed trade is executed during a trading session of the electronic market, comparing the received trade price to a market parameter of the security to determine the closing price of the security, and reporting the determined closing price of the security to a user.

Closing price determination for an automated market system

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Chevy Chase, MD, United States of America

Timothy E Cox