diff --git a/apps/trading-e2e/src/integration/markets.cy.ts b/apps/trading-e2e/src/integration/markets.cy.ts
index 4906328bd..e8e847808 100644
--- a/apps/trading-e2e/src/integration/markets.cy.ts
+++ b/apps/trading-e2e/src/integration/markets.cy.ts
@@ -1,4 +1,7 @@
 import * as Schema from '@vegaprotocol/types';
+import { aliasGQLQuery } from '@vegaprotocol/cypress';
+import { marketQuery } from '@vegaprotocol/mock';
+import { getDateTimeFormat } from '@vegaprotocol/react-helpers';
 
 describe('markets table', { tags: '@smoke' }, () => {
   beforeEach(() => {
@@ -111,6 +114,53 @@ describe('markets table', { tags: '@smoke' }, () => {
         `${Cypress.env('VEGA_TOKEN_URL')}/proposals/propose/new-market`
       );
   });
+
+  it('opening auction subsets should be properly displayed', () => {
+    cy.mockTradingPage(
+      Schema.MarketState.STATE_ACTIVE,
+      Schema.MarketTradingMode.TRADING_MODE_OPENING_AUCTION
+    );
+    cy.mockGQL((req) => {
+      const override = {
+        market: {
+          tradableInstrument: {
+            instrument: {
+              name: `opening auction MARKET`,
+            },
+          },
+          state: Schema.MarketState.STATE_ACTIVE,
+          tradingMode: Schema.MarketTradingMode.TRADING_MODE_OPENING_AUCTION,
+        },
+      };
+      const market = marketQuery(override);
+      aliasGQLQuery(req, 'Market', market);
+      aliasGQLQuery(req, 'ProposalOfMarket', {
+        proposal: { terms: { enactmentDatetime: '2023-01-31 12:00:01' } },
+      });
+    });
+    cy.visit('/');
+    cy.visit('#/markets/market-0');
+    cy.getByTestId('item-value').contains('Opening auction').realHover();
+    cy.getByTestId('opening-auction-sub-status').should(
+      'contain.text',
+      'Opening auction: Not enough liquidity to open'
+    );
+
+    const now = new Date(Date.parse('2023-01-30 12:00:01')).getTime();
+    cy.clock(now, ['Date']); // Set "now" to BEFORE reservation
+    cy.visit('/');
+    cy.visit('#/markets/market-0');
+    cy.getByTestId('item-value').contains('Opening auction').realHover();
+    cy.getByTestId('opening-auction-sub-status').should(
+      'contain.text',
+      `Opening auction: Closing on ${getDateTimeFormat().format(
+        new Date('2023-01-31 12:00:01')
+      )}`
+    );
+    cy.clock().then((clock) => {
+      clock.restore();
+    });
+  });
 });
 
 function openMarketDropDown() {
diff --git a/libs/deal-ticket/src/components/trading-mode-tooltip/trading-mode-tooltip.tsx b/libs/deal-ticket/src/components/trading-mode-tooltip/trading-mode-tooltip.tsx
index a6a4042f1..b34eb88c2 100644
--- a/libs/deal-ticket/src/components/trading-mode-tooltip/trading-mode-tooltip.tsx
+++ b/libs/deal-ticket/src/components/trading-mode-tooltip/trading-mode-tooltip.tsx
@@ -1,6 +1,9 @@
+import { useMemo } from 'react';
+import { parseISO, isValid, isAfter } from 'date-fns';
 import classNames from 'classnames';
+import { useProposalOfMarketQuery } from '@vegaprotocol/governance';
 import { useEnvironment } from '@vegaprotocol/environment';
-import { DataGrid, t } from '@vegaprotocol/react-helpers';
+import { DataGrid, getDateTimeFormat, t } from '@vegaprotocol/react-helpers';
 import * as Schema from '@vegaprotocol/types';
 import { ExternalLink } from '@vegaprotocol/ui-toolkit';
 import { createDocsLinks } from '@vegaprotocol/react-helpers';
@@ -21,14 +24,24 @@ export const TradingModeTooltip = ({
   const { VEGA_DOCS_URL } = useEnvironment();
   const market = useMarket(marketId);
   const marketData = useStaticMarketData(marketId, skip);
+  const { marketTradingMode: tradingMode, trigger } = marketData || {};
+  const variables = useMemo(() => ({ marketId: marketId || '' }), [marketId]);
+  const { data: proposalData } = useProposalOfMarketQuery({
+    variables,
+    skip:
+      !tradingMode ||
+      Schema.MarketTradingMode.TRADING_MODE_OPENING_AUCTION !== tradingMode,
+  });
 
   if (!market || !marketData) {
     return null;
   }
+  const enactmentDate = parseISO(
+    proposalData?.proposal?.terms.enactmentDatetime
+  );
 
   const compiledGrid =
     onSelect && compileGridData(market, marketData, onSelect);
-  const { marketTradingMode: tradingMode, trigger } = marketData;
 
   switch (tradingMode) {
     case Schema.MarketTradingMode.TRADING_MODE_CONTINUOUS: {
@@ -43,12 +56,47 @@ export const TradingModeTooltip = ({
     case Schema.MarketTradingMode.TRADING_MODE_OPENING_AUCTION: {
       return (
         <section data-testid="trading-mode-tooltip">
-          <p className={classNames({ 'mb-4': Boolean(compiledGrid) })}>
-            <span>
-              {t(
-                'This new market is in an opening auction to determine a fair mid-price before starting continuous trading.'
-              )}
-            </span>{' '}
+          <p
+            className={classNames('flex flex-col', {
+              'mb-4': Boolean(compiledGrid),
+            })}
+          >
+            {isValid(enactmentDate) && isAfter(new Date(), enactmentDate) ? (
+              <>
+                <span
+                  className="justify-center font-bold my-2"
+                  data-testid="opening-auction-sub-status"
+                >
+                  {`${Schema.MarketTradingModeMapping[tradingMode]}: ${t(
+                    'Not enough liquidity to open'
+                  )}`}
+                </span>
+                <span>
+                  {t(
+                    'This market is in opening auction until it has reached enough liquidity to move into continuous trading.'
+                  )}
+                </span>
+              </>
+            ) : (
+              <>
+                {isValid(enactmentDate) && (
+                  <span
+                    className="justify-center font-bold my-2"
+                    data-testid="opening-auction-sub-status"
+                  >
+                    {`${Schema.MarketTradingModeMapping[tradingMode]}: ${t(
+                      'Closing on %s',
+                      getDateTimeFormat().format(enactmentDate)
+                    )}`}
+                  </span>
+                )}
+                <span>
+                  {t(
+                    'This is a new market in an opening auction to determine a fair mid-price before starting continuous trading.'
+                  )}
+                </span>
+              </>
+            )}
             {VEGA_DOCS_URL && (
               <ExternalLink
                 href={createDocsLinks(VEGA_DOCS_URL).AUCTION_TYPE_OPENING}
diff --git a/libs/governance/src/lib/proposals-hooks/Proposal.graphql b/libs/governance/src/lib/proposals-hooks/Proposal.graphql
index 1a559274e..d61caa3f3 100644
--- a/libs/governance/src/lib/proposals-hooks/Proposal.graphql
+++ b/libs/governance/src/lib/proposals-hooks/Proposal.graphql
@@ -43,3 +43,12 @@ subscription OnUpdateNetworkParameters {
     }
   }
 }
+
+query ProposalOfMarket($marketId: ID!) {
+  proposal(id: $marketId) {
+    id
+    terms {
+      enactmentDatetime
+    }
+  }
+}
diff --git a/libs/governance/src/lib/proposals-hooks/__generated__/Proposal.ts b/libs/governance/src/lib/proposals-hooks/__generated__/Proposal.ts
index 1663074a0..1b6c17953 100644
--- a/libs/governance/src/lib/proposals-hooks/__generated__/Proposal.ts
+++ b/libs/governance/src/lib/proposals-hooks/__generated__/Proposal.ts
@@ -19,6 +19,13 @@ export type OnUpdateNetworkParametersSubscriptionVariables = Types.Exact<{ [key:
 
 export type OnUpdateNetworkParametersSubscription = { __typename?: 'Subscription', busEvents?: Array<{ __typename?: 'BusEvent', event: { __typename?: 'AccountEvent' } | { __typename?: 'Asset' } | { __typename?: 'AuctionEvent' } | { __typename?: 'Deposit' } | { __typename?: 'LiquidityProvision' } | { __typename?: 'LossSocialization' } | { __typename?: 'MarginLevels' } | { __typename?: 'Market' } | { __typename?: 'MarketData' } | { __typename?: 'MarketEvent' } | { __typename?: 'MarketTick' } | { __typename?: 'NodeSignature' } | { __typename?: 'OracleSpec' } | { __typename?: 'Order' } | { __typename?: 'Party' } | { __typename?: 'PositionResolution' } | { __typename?: 'Proposal', id?: string | null, state: Types.ProposalState, datetime: any, terms: { __typename?: 'ProposalTerms', enactmentDatetime?: any | null, change: { __typename?: 'NewAsset' } | { __typename?: 'NewFreeform' } | { __typename?: 'NewMarket' } | { __typename?: 'UpdateAsset' } | { __typename?: 'UpdateMarket' } | { __typename?: 'UpdateNetworkParameter', networkParameter: { __typename?: 'NetworkParameter', key: string, value: string } } } } | { __typename?: 'RiskFactor' } | { __typename?: 'SettleDistressed' } | { __typename?: 'SettlePosition' } | { __typename?: 'TimeUpdate' } | { __typename?: 'Trade' } | { __typename?: 'TransactionResult' } | { __typename?: 'TransferResponses' } | { __typename?: 'Vote' } | { __typename?: 'Withdrawal' } }> | null };
 
+export type ProposalOfMarketQueryVariables = Types.Exact<{
+  marketId: Types.Scalars['ID'];
+}>;
+
+
+export type ProposalOfMarketQuery = { __typename?: 'Query', proposal?: { __typename?: 'Proposal', id?: string | null, terms: { __typename?: 'ProposalTerms', enactmentDatetime?: any | null } } | null };
+
 export const ProposalEventFieldsFragmentDoc = gql`
     fragment ProposalEventFields on Proposal {
   id
@@ -113,4 +120,42 @@ export function useOnUpdateNetworkParametersSubscription(baseOptions?: Apollo.Su
         return Apollo.useSubscription<OnUpdateNetworkParametersSubscription, OnUpdateNetworkParametersSubscriptionVariables>(OnUpdateNetworkParametersDocument, options);
       }
 export type OnUpdateNetworkParametersSubscriptionHookResult = ReturnType<typeof useOnUpdateNetworkParametersSubscription>;
-export type OnUpdateNetworkParametersSubscriptionResult = Apollo.SubscriptionResult<OnUpdateNetworkParametersSubscription>;
\ No newline at end of file
+export type OnUpdateNetworkParametersSubscriptionResult = Apollo.SubscriptionResult<OnUpdateNetworkParametersSubscription>;
+export const ProposalOfMarketDocument = gql`
+    query ProposalOfMarket($marketId: ID!) {
+  proposal(id: $marketId) {
+    id
+    terms {
+      enactmentDatetime
+    }
+  }
+}
+    `;
+
+/**
+ * __useProposalOfMarketQuery__
+ *
+ * To run a query within a React component, call `useProposalOfMarketQuery` and pass it any options that fit your needs.
+ * When your component renders, `useProposalOfMarketQuery` returns an object from Apollo Client that contains loading, error, and data properties
+ * you can use to render your UI.
+ *
+ * @param baseOptions options that will be passed into the query, supported options are listed on: https://www.apollographql.com/docs/react/api/react-hooks/#options;
+ *
+ * @example
+ * const { data, loading, error } = useProposalOfMarketQuery({
+ *   variables: {
+ *      marketId: // value for 'marketId'
+ *   },
+ * });
+ */
+export function useProposalOfMarketQuery(baseOptions: Apollo.QueryHookOptions<ProposalOfMarketQuery, ProposalOfMarketQueryVariables>) {
+        const options = {...defaultOptions, ...baseOptions}
+        return Apollo.useQuery<ProposalOfMarketQuery, ProposalOfMarketQueryVariables>(ProposalOfMarketDocument, options);
+      }
+export function useProposalOfMarketLazyQuery(baseOptions?: Apollo.LazyQueryHookOptions<ProposalOfMarketQuery, ProposalOfMarketQueryVariables>) {
+          const options = {...defaultOptions, ...baseOptions}
+          return Apollo.useLazyQuery<ProposalOfMarketQuery, ProposalOfMarketQueryVariables>(ProposalOfMarketDocument, options);
+        }
+export type ProposalOfMarketQueryHookResult = ReturnType<typeof useProposalOfMarketQuery>;
+export type ProposalOfMarketLazyQueryHookResult = ReturnType<typeof useProposalOfMarketLazyQuery>;
+export type ProposalOfMarketQueryResult = Apollo.QueryResult<ProposalOfMarketQuery, ProposalOfMarketQueryVariables>;
\ No newline at end of file