Record Notional Value of Shares Traded on the Nasdaq Closing Cross During the 2025 Russell US Indexes Reconstitution
Nasdaq (NASDAQ:NDAQ) achieved a record-breaking performance during the 2025 Russell US Indexes Reconstitution, executing 2.5 billion shares worth $102.455 billion in just 0.871 seconds across Nasdaq-listed securities. This surpassed the previous year's record of $95.257 billion.
The Nasdaq Closing Cross, celebrating its 22nd year of calculating the Russell Reconstitution, has demonstrated remarkable growth with an over 550% increase in trade volume and 1500% growth in notional volume since its inception. The platform has also reduced latency by more than 85%.
Approximately $10.6 trillion in assets are currently benchmarked to or invested in products based on the Russell US Indexes. The newly reconstituted index membership will take effect on Monday, June 30th, 2025.
Nasdaq (NASDAQ:NDAQ) ha raggiunto una performance senza precedenti durante la ristrutturazione degli Indici Russell USA 2025, eseguendo 2,5 miliardi di azioni per un valore di 102,455 miliardi di dollari in soli 0,871 secondi su titoli quotati al Nasdaq. Questo ha superato il record dell'anno precedente, pari a 95,257 miliardi di dollari.
Il Nasdaq Closing Cross, che celebra il suo 22° anno nel calcolo della ristrutturazione Russell, ha mostrato una crescita straordinaria con un aumento di oltre il 550% nel volume di scambi e una crescita del 1500% nel volume nozionale sin dalla sua nascita. La piattaforma ha inoltre ridotto la latenza di oltre il 85%.
Attualmente, circa 10,6 trilioni di dollari in asset sono indicizzati o investiti in prodotti basati sugli Indici Russell USA. La nuova composizione dell'indice entrerà in vigore il lunedì 30 giugno 2025.
Nasdaq (NASDAQ:NDAQ) logró un rendimiento récord durante la Reconstitución de los Índices Russell de EE. UU. 2025, ejecutando 2.5 mil millones de acciones por un valor de 102.455 mil millones de dólares en solo 0.871 segundos en valores listados en Nasdaq. Esto superó el récord del año anterior de 95.257 mil millones de dólares.
El Nasdaq Closing Cross, que celebra su 22º año calculando la Reconstitución de Russell, ha demostrado un crecimiento notable con un aumento de más del 550% en el volumen de operaciones y un crecimiento del 1500% en el volumen nocional desde su inicio. La plataforma también ha reducido la latencia en más de un 85%.
Aproximadamente 10.6 billones de dólares en activos están actualmente referenciados o invertidos en productos basados en los Índices Russell de EE. UU. La nueva composición del índice entrará en vigor el lunes 30 de junio de 2025.
나스닥 (NASDAQ:NDAQ)은 2025년 러셀 미국 지수 재구성 기간 동안 나스닥 상장 증권을 대상으로 단 0.871초 만에 25억 주, 1,024억 5,500만 달러의 거래를 기록하며 사상 최고 실적을 달성했습니다. 이는 전년도 기록인 952억 5,700만 달러를 능가한 수치입니다.
러셀 재구성 계산을 시작한 지 22년째를 맞은 나스닥 클로징 크로스는 거래량이 550% 이상 증가하고 명목 거래량이 1500% 성장하는 등 놀라운 성장을 보여주었으며, 지연 시간도 85% 이상 단축했습니다.
현재 약 10.6조 달러의 자산이 러셀 미국 지수를 기반으로 한 상품에 벤치마크되거나 투자되어 있습니다. 새로 재구성된 지수 구성은 2025년 6월 30일 월요일부터 적용됩니다.
Nasdaq (NASDAQ:NDAQ) a réalisé une performance record lors de la reconstitution des indices Russell US 2025, en exécutant 2,5 milliards d’actions d’une valeur de 102,455 milliards de dollars en seulement 0,871 seconde sur des titres cotés au Nasdaq. Ce chiffre dépasse le record de l’année précédente, qui était de 95,257 milliards de dollars.
Le Nasdaq Closing Cross, qui fête sa 22e année de calcul de la reconstitution Russell, a montré une croissance remarquable avec une augmentation de plus de 550 % du volume de transactions et une croissance de 1500 % du volume notionnel depuis sa création. La plateforme a également réduit la latence de plus de 85 %.
Environ 10,6 trillions de dollars d’actifs sont actuellement référencés ou investis dans des produits basés sur les indices Russell US. La nouvelle composition de l’indice prendra effet le lundi 30 juin 2025.
Nasdaq (NASDAQ:NDAQ) erzielte während der Russell US Index-Neukonstituierung 2025 eine rekordverdächtige Leistung, indem 2,5 Milliarden Aktien im Wert von 102,455 Milliarden US-Dollar in nur 0,871 Sekunden über Nasdaq-gelistete Wertpapiere abgewickelt wurden. Dies übertraf den Rekord des Vorjahres von 95,257 Milliarden US-Dollar.
Der Nasdaq Closing Cross, der sein 22-jähriges Jubiläum bei der Berechnung der Russell-Neukonstituierung feiert, verzeichnete ein bemerkenswertes Wachstum mit einer Steigerung des Handelsvolumens um über 550% und einem Wachstum des nominalen Volumens um 1500% seit seiner Einführung. Die Plattform hat zudem die Latenzzeit um mehr als 85% reduziert.
Rund 10,6 Billionen US-Dollar an Vermögenswerten sind derzeit an den Russell US Indizes orientiert oder in darauf basierende Produkte investiert. Die neu konstituierte Indexzusammensetzung tritt am Montag, den 30. Juni 2025 in Kraft.
- Record $102.455 billion in shares executed during Russell Reconstitution, up from $95.257 billion in 2024
- Execution speed improved to 0.871 seconds from 0.878 seconds year-over-year
- Platform demonstrated 550% trade volume growth and 1500% notional volume growth since inception
- Significant latency reduction of over 85% since launch
- None.
Insights
Nasdaq set new records during Russell reconstitution with $102.46B traded, showing continued market infrastructure strength and trading volume growth.
Nasdaq achieved a new milestone during the 2025 Russell US Indexes reconstitution, executing a record
This annual reconstitution represents one of the year's largest liquidity events, where approximately
What's particularly notable is the long-term scaling of Nasdaq's infrastructure. Since beginning to calculate the Russell Reconstitution, the Closing Cross has reduced latency by over
The successful execution of this high-stakes liquidity event highlights Nasdaq's strategic investment in market infrastructure modernization, including their recently launched fourth-generation marketplace technology platform, Eqlipse. This infrastructure enhancement strengthens Nasdaq's competitive position as a technology provider to over 135 market infrastructure clients globally, extending beyond their own exchange operations.
The record demonstrates both the growing size of passive index-based investment strategies that rely on these reconstitution events and Nasdaq's ability to handle increasingly complex market operations with precision at scale.
Nasdaq powers technological development furthering trading growth
NEW YORK, June 27, 2025 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ) today announced the Nasdaq Closing Cross had a record day as it was used to rebalance Nasdaq-listed securities in the entire family of Russell US Indexes, part of global index provider FTSE Russell, during its annual reconstitution. This year marks the 41st anniversary of the Russell 3000® Index and the 22nd year that the Closing Cross has been used to calculate the Russell Reconstitution.
2,506,428,416 shares, representing a record
“The Nasdaq Closing Cross serves a critical role in capital markets infrastructure, processing trades and providing transparent price facilitation, particularly as U.S equities see unprecedented volumes and message traffic,” said Kevin Kennedy, Executive Vice President of North American Markets at Nasdaq. “We are thrilled to celebrate a new record notional value of shares traded during the Russell Reconstitution and to continue delivering the highest level of performance, resilience and precision for the market every day, including during the market's most critical events.”
“Russell Reconstitution is a cornerstone event for the US equity markets, ensuring the full suite of Russell US Indexes remain precise and representative of the ever-evolving marketplace,” said Fiona Bassett, CEO of FTSE Russell. “This year’s record notional volume underscores the continued trust the investment community places in our transparent and rules-based process. We’re proud to celebrate the successful completion of this year’s rebalancing with our longstanding friends at Nasdaq, marking another milestone in our shared commitment to market integrity and efficiency.”
The Closing Cross brings together buy and sell interests executing all shares for each stock at a single price, one that reflects the accurate supply and demand for these securities. The technology reflects each symbol’s true supply and demand, providing unparalleled insight into the market close.
All Russell US Indexes are subsets of the Russell 3000E™ Index, which represents approximately
Russell reconstitution day is one of the year’s most highly anticipated and heaviest trading days in the US equity market, as asset managers seek to reconfigure their portfolios to reflect the composition of Russell's newly reconstituted US indexes. The index reconstitution process was completed today, and the newly reconstituted index membership will take effect when markets open on Monday, June 30th, 2025. Please visit our website for more information on the Nasdaq Closing Cross.
Continued expansion in trading volumes
Since the Nasdaq Closing Cross began calculating the Russell Reconstitution over two decades ago, the Cross has reduced latency by over
Trading volume increases have been felt not just by Nasdaq, but by firms globally, necessitating the development and deployment of technologically enhanced markets and trading infrastructure. Leveraging its expansive experience operating leading exchange businesses in the world’s most advanced markets, Nasdaq recently launched Eqlipse, the fourth generation of its marketplace technology platform. The launch followed years of strategic investment to develop a unified and interoperable suite of solutions across trading, clearing, central securities depository, and data intelligence. It allows Nasdaq to form deeper strategic technology partnerships with market infrastructure providers, which includes more than 135 clients around the world, reinforcing Nasdaq’s ability to enhance liquidity, transparency and integrity across global capital markets.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
About FTSE Russell:
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit FTSE Russell.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
Nasdaq Media Contacts:
Gabrielle Vennitti
(914) 510-3354
Gabrielle.Vennitti@nasdaq.com
FTSE Russell Media Contact:
Simon Henrick
+44 (0)20 7797 1222
newsroom@lseg.com
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FAQ
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