Net Order Imbalance Indicator (NOII)

What Is the Net Order Imbalance Indicator (NOII)?

The Net Order Imbalance Indicator (NOII) is order imbalance data about the opening and closing crosses on the Nasdaq stock market, given to market users prior to executing the crosses. The NOII shows the genuine supply and demand for a stock, in view of real buy-and-sell orders, 10 minutes before the market close and five minutes before the market open.

Grasping the Net Order Imbalance Indicator (NOII)

The Net Order Imbalance Indicator (NOII) supports market members' trading ability by assisting them with recognizing new trading opportunities. It increments market transparency by supplying investors and advisers with a large amount of data about opening and closing orders, as well as the possible opening and closing prices for a security. NOII data is scattered at regular intervals between 9:28 a.m. furthermore, 9:30 a.m. EST for the opening cross, and between 3:50 p.m. also, 4 p.m. for the closing cross.

NOII is a product offered by Nasdaq for traders to assist with improving trading decisions. It contains data, for example, the "top rundown," which shows the top stocks on the Nasdaq positioned by the number of shares matched, the NOIII history, which shows six days worth of open and close imbalances for a stock, a modified portfolio where a trader can store 50 stocks for simple review, and an export feature into Excel.

The cost of NOII is $15 each month for non-ace pricing and $76 each month for professional pricing.

Parts of the Net Order Imbalance Indicator (NOII)

The data components remembered for the NOII are the close to indicative clearing price, far indicative clearing price, current reference price, the number of paired shares, imbalance shares, the price variance indicator, and the clearing indicator.

Close to Indicative Clearing Price: The close to indicative clearing price is the crossing price at which orders in the Nasdaq opening, closing, and continuous book would clear against one another at the dispersal time.

Far Indicative Clearing Price: The far indicative clearing price is the crossing price at which orders in the Nasdaq opening and closing book would clear against one another at the hour of spread.

Current Reference Price: The current reference price is the reference price inside the Nasdaq Inside, i.e., the highest bid and least ask, at which paired shares, likewise called matched buy-and-sell market orders, are amplified while limiting the order imbalance. Assuming the field is null or clear in the NOII display, it is on the grounds that there is no current reference price for that specific security.

Paired Shares: The number of paired shares is the number of shares that can be paired off at the current reference price. For the opening and closing cross, this calculation will incorporate all orders that can be matched at the Current Reference Price. For the initial public offering (IPO) and trading halt opening interaction, this calculation would incorporate standard hour orders and statements that are eligible to be matched at the current reference price.

Imbalance Shares: The imbalance shares are the size of the imbalance, or all in all, the number of opening or closing shares that would remain unexecuted at the current reference price. The imbalance side indicates whether a buy-side or sell-side imbalance exists, or whether there is no imbalance.

Price Variance Indicator: The price variance indicator measures the difference between the indicative clearing price and the current reference price. It is calculated by taking the absolute value of the percentage of deviation of the close to indicative clearing price according to the current reference price.

Clearing Indicator: The clearing indicator reflects buy or sell interest that can't be paired at the close to indicative clearing price or the far indicative clearing price.

Features

• The NOII data is open to traders and gives them the genuine supply and demand for a stock in view of buy-and-sell orders that permits them to go with better trading choices.
• The parts of the Net Order Imbalance Indicator are the close to indicative clearing price, the far indicative clearing price, the current reference price, paired shares, imbalance shares, the price variance indicator, and the clearing indicator.
• The NOII data is given 10 minutes before the market close and five minutes before the market opens.
• The Net Order Imbalance Indicator (NOII) is an instrument given by the Nasdaq stock exchange that shows order imbalance data about the opening and closing crosses.