Tag Archives: Russell 3000

Russell Rebalance Sees 751 Million Shares Reconfigured

For the eighth consecutive year, the Nasdaq Closing Cross reconfigured the entire family of U.S. Russell indexes during their annual reconstitution on Friday. In 1.1 seconds the Nasdaq Closing Cross executed approximately 750.8 million shares representing $10.6 billion across 2,298 Nasdaq-listed stocks.

“The Nasdaq Closing Cross is a price discovery facility which has become an industry standard for index providers, mutual fund managers and the investing public who seek accurate closing prices in microseconds,” said Eric Noll, executive vice president of Transaction Services, Nasdaq OMX, in a written statement. This year the Closing Cross experienced fewer shares in the rebalance than previous years.

The Closing Cross brings together the buy and sell interest in specific Nasdaq, NYSE and NYSE Amex stocks and executes all shares for each stock at a single price, one that reflects the true supply and demand for these securities. All nationally-listed securities are eligible for the Nasdaq Closing Cross. Official closing prices determined by the Nasdaq Closing Cross are widely used throughout the industry, including by Russell Investments, Standard & Poor’s, Dow Jones, and mutual funds across the country.

The Russell U.S. Indexes include only common stocks incorporated in the U.S., its territories, and certain countries or regions offering U.S. companies operational, tax, political or other financial benefits. All Russell U.S. indexes are subsets of the Russell 3000 Index, which represents approximately 98% of the U.S. equity market. Today, more than $3.9 trillion in assets are benchmarked to the Russell Indexes.

The newly reconstituted index membership took effect before markets opened on Monday, June 27.