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ACT Hours of Operation to be Extended, Effective November 6, 2006

What you need to know:

  • Effective November 6, 2006, the ACT platform’s hours of operation will be extended to 8:00 p.m., Eastern Time (ET), pending approval from the Securities and Exchange Commission (SEC).
  • Beginning November 6th, trades executed between 6:30 p.m. and 8:00 p.m., ET, must be reported within 90 seconds of execution. Trades executed after 8:00 p.m., ET, must be reported the following day as “as-of” trades.

Whom you should contact: NASDAQ Market Sales at 800.846.0477


What is changing?
Effective November 6, 2006, the ACT platform’s hours of operation will be extended to 8:00 p.m., ET, pending SEC approval. ACT technology is currently used on behalf of NASD to support the reporting of NASDAQ-listed securities to the Trade Reporting Facility (TRF), as well as to accept trade reports on behalf of NASD for other exchange-listed, Over-the-Counter (OTC) and OTC Bulletin Board (OTCBB) securities. Therefore, the hours of operation for reporting NASDAQ-listed trades to the TRF and for reporting other exchange-listed, OTC and OTCBB trades to ACT will be extended as well.

Currently, the ACT hours of operation are 8:00 a.m. to 6:30 p.m., ET. Beginning November 6th, ACT’s new hours of operation will be 8:00 a.m. to 8:00 p.m., ET.

Please note that pending SEC approval, the TRF will be available in the future for the reporting of non-NASDAQ exchange-listed securities.

Why are ACT’s hours of operation changing?
The ACT platform’s hours of operation are changing to align the TRF hours of operation with the extended hours of operation for the Unlisted Trading Privileges (UTP) Securities Information Processor (SIP). Please refer to UTP Vendor Alert #2006-017 for more information.

What do I need to do?
Currently, any trades executed after 6:30 p.m., ET, are reported to ACT the following day as “as-of” trades.

Beginning November 6, 2006, any trades executed between 6:30 p.m. and 8:00 p.m., ET, must be reported to ACT within 90 seconds of execution. Trades executed after 8:00 p.m., ET, must be reported the following day as “as-of” trades.

What will the new ACT schedule be?
Effective, November 6, 2006, the ACT schedule will be:

Time (ET) Event
8:00 a.m. ACT opens; pre-market trades reported
9:30 a.m.-4:00 p.m. Regular market hours
4:00 p.m.-8:00 p.m. .T trade reporting hours
5:15 p.m. End of cancellation/correction window for regular market hours transactions
8:00 p.m. ACT closes


Where can I get additional information?




NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Trader website at www.NASDAQTrader.com.




The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, ADRs, and Direct Participation Programs (DPPs).


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