The trading platform replicates the US day time trading experience: electronic access, dynamic and transparent price discovery (live data), the same regulatory reporting requirements, and the same clearing and settlement process.
Robinhood, a U.S. retail brokerage, has expanded its 24/5 trading service, the Robinhood 24 Hour Market. Launched in May, it initially offered trading of 43 stocks and ETFs, including major ones like TSLA, AMZN, and AAPL.
Since then, Robinhood’s 24 Hour Market expanded its offering. Last week, the platform added 141 new stocks and ETFs, bringing the total number of symbols available for our customers to 236.
Strong trading volumes, particularly during earnings season
This service allows Robinhood customers to trade from 1 AM GMT on Monday to 1 AM GMT on Saturday, enabling real-time market engagement. This feature is designed to cater to investors who want to respond promptly to market-moving news, regardless of the time it breaks.
Robinhood’s 24 Hour Market has seen strong trading volumes, particularly during earnings season. The extension of this service to the UK version of the app broadens its international reach.
However, Robinhood cautions investors about the unique risks associated with trading outside regular market hours. These include lower liquidity, increased volatility, greater spreads, and pricing uncertainty.
The selection of specific symbols in the Robinhood 24 Hour Market promotional materials was based on the largest stocks by volume of orders placed on the Blue Ocean Alternative Trading System (BOATS) during the overnight session in a 90-day period ending March 13, 2023.
Robinhood overnight trades route to Blue Ocean ATS
To make the 24 Hour Market a reality, Robinhood partnered with Blue Ocean ATS, LLC, a US broker dealer which operates the alternative trading system BOATS.
The trading platform replicates the US day time trading experience: electronic access, dynamic and transparent price discovery (live data), the same regulatory reporting requirements, and the same clearing and settlement process.
The firm helps close the risk management gap overnight. The Blue Ocean Session overlaps significantly with Asia Pacific business hours – a more convenient time to trade for many investors. For the 24 Hour Market, Robinhood routes trades to the Blue Ocean Alternative Trading System (BOATS).
We at FinanceFeeds have covered the expansion of Blue Ocean ATS’s business across the globe, including recent partnerships with Intercontinental Exchange, FlexTrade, Futu, and Broadridge.
