diff --git a/apps/trading/client-pages/markets/closed.spec.tsx b/apps/trading/client-pages/markets/closed.spec.tsx
index 84f5aa5a5..1bff48d14 100644
--- a/apps/trading/client-pages/markets/closed.spec.tsx
+++ b/apps/trading/client-pages/markets/closed.spec.tsx
@@ -314,7 +314,7 @@ describe('Closed', () => {
   });
 
   it('display market actions', async () => {
-    // Use market with a succcessor Id as the actions dropdown will optionally
+    // Use market with a successor Id as the actions dropdown will optionally
     // show a link to the successor market
     const marketsWithSuccessorAndParent = [
       {
diff --git a/apps/trading/e2e/tests/market/test_closed_markets.py b/apps/trading/e2e/tests/market/test_closed_markets.py
index 670efacbf..82823f758 100644
--- a/apps/trading/e2e/tests/market/test_closed_markets.py
+++ b/apps/trading/e2e/tests/market/test_closed_markets.py
@@ -131,7 +131,7 @@ def test_terminated_market_no_settlement_date(page: Page, vega: VegaServiceNull)
     row_selector = page.locator(
         '[data-testid="tab-closed-markets"] .ag-center-cols-container .ag-row'
     ).first
-    expect(row_selector.locator('[col-id="state"]')).to_have_text("Trading Terminated")
+    expect(row_selector.locator('[col-id="state"]')).to_have_text("No trading")
     expect(row_selector.locator('[col-id="settlementDate"]')).to_have_text("Unknown")
 
     # TODO Create test for terminated market with settlement date in future
diff --git a/apps/trading/e2e/tests/market_lifecycle/test_market_lifecycle.py b/apps/trading/e2e/tests/market_lifecycle/test_market_lifecycle.py
index 96b55127b..30f42b9c5 100644
--- a/apps/trading/e2e/tests/market_lifecycle/test_market_lifecycle.py
+++ b/apps/trading/e2e/tests/market_lifecycle/test_market_lifecycle.py
@@ -174,9 +174,9 @@ def test_market_lifecycle(proposed_market, vega: VegaServiceNull, page: Page):
     vega.wait_fn(1)
     vega.wait_for_total_catchup()
 
-    # market state should be changed to "Trading Terminated" because of the invalid oracle
+    # market state should be changed to "No trading" because of the invalid oracle
     expect(trading_mode).to_have_text("No trading")
-    expect(market_state).to_have_text("Trading Terminated")
+    expect(market_state).to_have_text("No trading")
 
     # settle market
     vega.submit_termination_and_settlement_data(
diff --git a/libs/deal-ticket/src/components/deal-ticket/deal-ticket.tsx b/libs/deal-ticket/src/components/deal-ticket/deal-ticket.tsx
index 207a3eb34..0f3b6d6db 100644
--- a/libs/deal-ticket/src/components/deal-ticket/deal-ticket.tsx
+++ b/libs/deal-ticket/src/components/deal-ticket/deal-ticket.tsx
@@ -329,8 +329,9 @@ export const DealTicket = ({
 
     const marketTradingModeError = validateMarketTradingMode(
       marketTradingMode,
-      t('Trading terminated')
+      t('No trading')
     );
+
     if (marketTradingModeError !== true) {
       return {
         message: marketTradingModeError,
diff --git a/libs/i18n/src/locales/en/deal-ticket.json b/libs/i18n/src/locales/en/deal-ticket.json
index 3d297ddd1..c3bf38ff3 100644
--- a/libs/i18n/src/locales/en/deal-ticket.json
+++ b/libs/i18n/src/locales/en/deal-ticket.json
@@ -116,7 +116,7 @@
   "Total fees": "Total fees",
   "Total margin available": "Total margin available",
   "TOTAL_MARGIN_AVAILABLE": "Total margin available = general {{assetSymbol}} balance ({{generalAccountBalance}} {{assetSymbol}}) + margin balance ({{marginAccountBalance}} {{assetSymbol}}) - maintenance level ({{marginMaintenance}} {{assetSymbol}}).",
-  "Trading terminated": "Trading terminated",
+  "No trading": "No trading",
   "Trailing percent offset cannot be higher than 99.9": "Trailing percent offset cannot be higher than 99.9",
   "Trailing percent offset cannot be lower than {{trailingPercentOffsetStep}}": "Trailing percent offset cannot be lower than {{trailingPercentOffsetStep}}",
   "Trailing percentage offset": "Trailing percentage offset",