How Much Volume Dey Trade for Closing Auction?

How much volume dey trade for closing? On one ordinary Wednesday, Sep 23, closing auction print carry 14.52% of consolidated daily volume across four NYSE-listed large caps, and 21.6% across four Nasdaq-listed ones. On the quarterly rebalance Friday, Sep 18, the same measurement for the same eight names show 26.6% and 35.5%. Closing auction share of daily volume no be one fixed number. Na number wey dey change every day, and the kind day fit move am.

Daily volume dey print for closing auction?

Closing auction na the single-price trade wey set official closing price for stock by 4:00 p.m. ET. Orders wey remain for am go match for one cross and one price, and that cross go reach consolidated tape as one print. The matching mechanics dey inside wetin closing auction be, while order deadlines dey inside MOC and MOO cutoff times. This page na the measurement.

Two numbers dey determine the share. Numerator na the biggest print wey tape carry for the 16:00 ET minute for one symbol, and na the cross itself. Denominator na that symbol’s consolidated volume for the whole day, including every venue and every print. The panel below arrange eight popular names into one NYSE listed basket (KO, JNJ, XOM, WMT) and one Nasdaq listed basket (AAPL, MSFT, COST, CSCO). E then run the same calculation for four selected sessions for August and September 2026.

• One quiet summer session, Tuesday August 11
• One monthly option expiration, Friday August 21
• One quarterly index rebalance, Friday September 18
• One normal autumn session, Wednesday September 23

WITH
    auction AS
    (
        SELECT
            toDate(toTimeZone(sip_timestamp, 'America/New_York')) AS session,
            ticker,
            max(size)                                             AS auction_shares
        FROM global_markets.stocks_trades
        WHERE ticker IN ('KO', 'JNJ', 'XOM', 'WMT', 'AAPL', 'MSFT', 'COST', 'CSCO')
          AND toDate(sip_timestamp) IN ('2026-08-11', '2026-08-21', '2026-09-18', '2026-09-23')
          AND toHour(toTimeZone(sip_timestamp, 'America/New_York')) = 16
          AND toMinute(toTimeZone(sip_timestamp, 'America/New_York')) = 0
        GROUP BY session, ticker
    ),
    day_volume AS
    (
        SELECT
            date        AS session,
            ticker,
            max(volume) AS day_shares
        FROM global_markets.stocks_daily_aggs
        WHERE ticker IN ('KO', 'JNJ', 'XOM', 'WMT', 'AAPL', 'MSFT', 'COST', 'CSCO')
          AND date IN ('2026-08-11', '2026-08-21', '2026-09-18', '2026-09-23')
        GROUP BY session, ticker
    )
SELECT
    multiIf(
        session = '2026-08-11', 'quiet Tuesday, Aug 11',
        session = '2026-08-21', 'monthly opex Friday, Aug 21',
        session = '2026-09-18', 'quarterly rebalance Friday, Sep 18',
                                'ordinary Wednesday, Sep 23')                 AS label,
    round(100 * sumIf(toFloat64(auction_shares), ticker IN ('KO', 'JNJ', 'XOM', 'WMT'))
              / sumIf(toFloat64(day_shares),     ticker IN ('KO', 'JNJ', 'XOM', 'WMT')), 2)             AS nyse_listed_pct,
    round(100 * sumIf(toFloat64(auction_shares), ticker IN ('AAPL', 'MSFT', 'COST', 'CSCO'))
              / sumIf(toFloat64(day_shares),     ticker IN ('AAPL', 'MSFT', 'COST', 'CSCO')), 2)        AS nasdaq_listed_pct
FROM auction
INNER JOIN day_volume USING (session, ticker)
GROUP BY session
ORDER BY session

For the quiet Tuesday, Aug 11, the NYSE listed basket print 19.17% of its day’s volume for auction, while the Nasdaq listed basket print 17.39%. The monthly opex Friday, Aug 21 show 10.35% for the NYSE listed basket. Four pairs of bars explain the result pass any single average: you need measure the auction’s share of daily volume per session, and the difference across these four sessions na the main finding.

Why auction na the biggest single print for the day

Funds wey dey track index dey price their subscriptions and redemptions with official closing prices. Mandates wey benchmark to the close dey send market-on-close orders instead of working order through the afternoon. Auction na the only time for the day wey all this interest meet for one price. Volume wey stay out during the quiet middle of the session, as why trading volume dies at midday explain, go show for that one print.

Two types of session dey add to am. Index changes take effect for the close of the third Friday of quarter-end month. Funds wey dey track the benchmark execute those changes for the official closing price. Na this index rebalance day closing auctions dey cover. Monthly and quarterly option expirations dey fall on those same Fridays for March, June, September and December. what triple witching is cover that session.

Share dey different between NYSE and Nasdaq listings?

Both venues dey run one auction per symbol for 16:00 ET, but the plumbing no be the same. The NYSE closing auction involve Designated Market Maker wey dey help set the final price. The Nasdaq closing cross dey happen fully electronic. For the tape, the result look similar: one big print wey carry 16:00 minute timestamp.

The two series for the panel above na the comparison. Dem use the same four sessions and the same arithmetic. Read dem with the composition for mind. These na two baskets of four household names, no be complete count of either listing venue. Also, basket share fit move based on how heavily the names trade during the session and how much volume enter the cross.

Closing print fit stand alone for tape?

Partly, and the honest answer matter for this one. Tape carry dictionary of sale conditions, and several of dem dey name the close.

SELECT
    toString(any(id)) AS condition_id,
    name              AS condition_name,
    any(abbreviation) AS abbreviation,
    any(type)         AS condition_type
FROM global_markets.stocks_condition_codes
WHERE asset_class = 'stocks'
  AND name ILIKE '%clos%'
GROUP BY name
ORDER BY condition_id

That dictionary give you the vocabulary, 7 entries inside am. E no give you any field wey say “auction volume”. Some closing conditions dey mark price dissemination instead of trade wey dey update volume. The rules dey differ by code, so if you add every print wey get closing condition tag, you fit count the same shares two times. The measurement for this page avoid that problem: e take the biggest print for the 16:00 minute, wey be the cross. That number na floor, no be exact auction total. Auction shares wey reach tape as extra smaller prints for the same minute no dey inside the numerator. And session wey close early by 1:00 p.m. no get any 16:00 minute at all.

How share dey move through one quarter

One stock name, wey dem measure for every session, dey show the pattern wey four fixed days fit only suggest. The panel dey run the same two figures for Coca-Cola (KO) across every session from August 3 reach September 30, 2026.

WITH
    closing_print AS
    (
        SELECT
            toDate(toTimeZone(sip_timestamp, 'America/New_York')) AS session,
            max(size)                                             AS auction_shares
        FROM global_markets.stocks_trades
        WHERE ticker = 'KO'
          AND sip_timestamp >= toDateTime('2026-08-03 00:00:00')
          AND sip_timestamp <  toDateTime('2026-10-01 00:00:00')
          AND toHour(toTimeZone(sip_timestamp, 'America/New_York')) = 16
          AND toMinute(toTimeZone(sip_timestamp, 'America/New_York')) = 0
        GROUP BY session
    ),
    day_volume AS
    (
        SELECT
            date        AS session,
            max(volume) AS day_shares
        FROM global_markets.stocks_daily_aggs
        WHERE ticker = 'KO'
          AND date >= '2026-08-03'
          AND date <  '2026-10-01'
        GROUP BY session
    )
SELECT
    session,
    round(100 * toFloat64(auction_shares) / toFloat64(day_shares), 2) AS auction_pct,
    round(toFloat64(day_shares) / 1e6, 1)                             AS day_volume_millions
FROM closing_print
INNER JOIN day_volume USING (session)
ORDER BY session

Na 42 sessions for one stock. The line na the auction share of the day. The bars behind am na the total volume for that day, measured in millions of shares. When you read both together, e dey separate two things wey easy to mix up: big auction and big day. Thin summer session fit give the cross big share of small total, while heavy session fit hide big cross inside even bigger tape. If you dey track volume against the stock own normal level, average daily volume na the number wey go accompany am.

One session, print by print

Na one trading session wey we show minute by minute: KO for Wednesday, September 23, 2026, from 15:50 ET reach closing bell. Each row represent one clock minute.

SELECT
    formatDateTime(toStartOfMinute(toTimeZone(sip_timestamp, 'America/New_York')), '%H:%i') AS et_time,
    toUInt64(sum(size))                                                                     AS volume,
    formatReadableQuantity(toFloat64(sum(size)))                                            AS volume_label
FROM global_markets.stocks_trades
WHERE ticker = 'KO'
  AND sip_timestamp >= toDateTime('2026-09-23 19:50:00')
  AND sip_timestamp <  toDateTime('2026-09-23 20:01:00')
GROUP BY et_time
ORDER BY et_time

The last row na the 16:00 minute, with 5.94 million shares. The minute before am carry 422.41 thousand. The bar for the right edge of the chart na the auction. The ten bars for its left na normal continuous trading for the same stock, some minutes earlier.

Now we sort the same session by print size instead of clock time. These na the eight biggest individual trades wey consolidated tape carry for KO between 9:00 a.m. and 9:00 p.m. ET that day.

WITH
    (
        SELECT toFloat64(max(volume))
        FROM global_markets.stocks_daily_aggs
        WHERE ticker = 'KO'
          AND date = '2026-09-23'
    ) AS day_shares
SELECT
    formatDateTime(toTimeZone(sip_timestamp, 'America/New_York'), '%H:%i:%S') AS et_clock,
    toUInt64(size)                                                           AS shares,
    round(100 * toFloat64(size) / day_shares, 2)                             AS pct_of_day_volume,
    formatReadableQuantity(toFloat64(size))                                  AS shares_label
FROM global_markets.stocks_trades
WHERE ticker = 'KO'
  AND sip_timestamp >= toDateTime('2026-09-23 13:00:00')
  AND sip_timestamp <  toDateTime('2026-09-24 01:00:00')
ORDER BY size DESC
LIMIT 8

The biggest print for the session land at 16:00:02 ET: 2.80 million shares, or 21.53% of everything KO trade that day, all for one line of the tape. The second line for the panel also make up double-digit share of the session: 21.53% at 16:00:02 ET. The top of this session tape no be one giant print wey stand alone above plenty small ones. Na two big lines, and the floor wey this page measure count only the bigger one. Whether the second line na part of the same cross wey reach the tape in more than one piece, or na another big trade, size column and timestamp no fit settle am. Wetin the panel show na how different the top rows be from the rest of the tape: normal session activity dey come in very large number of small prints, while a single-price cross put one price on one large trade.

FAQ

Daily volume wey trade for closing auction na what percentage?

Na figure wey fit change every day; e no be constant. For ordinary Wednesday, Sep 23 wey dem measure above, the four NYSE listed names print 14.52% of their consolidated daily volume for closing auction, while the four Nasdaq listed names print 21.6%.

Closing auction share bigger for NYSE or Nasdaq listed stocks?

Both venues run one single-price auction for each symbol by 4:00 p.m. ET, and both print am as one big trade. The panel above measure the two baskets side by side across four sessions. Na this comparison make sense, instead of general rule about either venue.

Closing auction dey bigger on expiration and rebalance days?

For quarterly rebalance Friday, Sep 18 inside the panel above, the NYSE listed basket auction share measure 26.6%, compared with 14.52% for the ordinary autumn session. Index changes take effect at the official closing price on those Fridays, and benchmark-tracking funds execute dem for the cross.

How I fit identify closing auction print for the tape?

Look for the single biggest trade wey get 16:00 ET minute timestamp. For the worked example above, na 2.80 million shares at 16:00:02 ET. The panel showing the biggest prints for that session also get a second line wey represent double-digit share of the day. The measurement for this page count only the biggest print, so e be minimum estimate, no be exact auction total.

Every panel for here come with the exact SQL wey produce am, so person fit audit the measurement line by line. To run the same two numbers for another name or session, ask for am with plain English on the Strasmore terminal.