What is the term that describes allowing selected investors to purchase mutual funds after 4:00 p.m., using that day’s net asset value (NAV), rather than the next day’s NAV, as required under the law?
Late trading happens when trading orders are executed after the standard trading hours of domestic national exchanges have closed. Although this can be compared to after hours trading, it is distinct in the manner as this is considered illegal in the US whereas after hours trading is not. It is allowed in some instances when investors buy shares of mutual funds for which their day prices have been determined for that day.
