Business and Personal Finance Dictionary

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• AFTER HOURS LAST SALE
  
  An electronic entry by an NASD Member firm representing the price involved in a transaction of a NASDAQ security during the current day’s After Hours session. The trade report must be submitted to NASDAQ within 90 seconds after the execution of the trade. Investors may trade in the After Hours Market (4:00-6:30 p.m. ET for NASDAQ stocks and 4:00-8:00 p.m. ET for NYSE and Amex stocks). Participation by Market Makers and ECNs is strictly voluntary and as a result may offer less liquidity and inferior prices. Stock prices may also move more quickly in this environment. Investors who anticipate trading during these times are strongly advised to use limit orders.
  
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