Overnight Trading (24/6)

You can trade U.S.-listed stocks, ETFs, and ADRs from 8:00 PM to 4:00 AM ET, five nights a week, Sunday evening through Friday morning.

At a glance

What orders are eligible overnight?

Only equity limit orders are eligible for the overnight session. Market orders and options orders placed during this window are not executed overnight. They are held and queued until the next regular session opens.

How to place an overnight order

Enable the extended-hours toggle on your order ticket. The toggle makes an order eligible for the pre-market, after-hours, and overnight sessions, but these are separate sessions and orders don't carry over from one to the next.

Orders placed during after-hours (4:00 PM to 8:00 PM ET) don't roll into the overnight session. If an after-hours order hasn't filled by 8:00 PM ET, it expires for the day. To trade in the overnight session, place a new order after 8:00 PM ET.

Even with the toggle on, only equity limit orders are eligible to execute overnight.

What happens to ineligible orders?

Market orders and options orders will not execute during the overnight session, even if the extended-hours toggle is enabled. These orders are held and queued until the next regular session opens.

Short sales of securities that aren't on the ETB list can't be placed in the overnight session. They're rejected when you submit them, not queued, because borrow availability can only be confirmed from 4:00 AM to 8:00 PM ET. See 📄 Short Selling, ETB, and Locate Requests .

Overnight markets can behave differently from the regular session. Review the risks below before placing your first overnight trade.

Risks of overnight trading

Extended-hours and overnight trading involve risks that may be greater or different than trading during regular market hours. Before submitting orders outside regular market hours, clients should understand the following risks.

General extended-hours risks

1. Lower liquidity. Liquidity means the ability of market participants to buy and sell securities. When fewer orders are available, it may be harder to buy or sell securities at a competitive price. In extended-hours or overnight trading, your order may be partially executed, not executed at all, or executed at an inferior price.

2. Higher volatility. Volatility means changes in a security’s price. Prices may move more sharply outside regular market hours, which can result in partial execution, no execution, or an inferior price compared with regular hours.

3. Changing prices. Prices outside regular market hours may not reflect prices at the end of the regular session or prices available when the next regular session begins. You may receive an inferior price than you would during regular market hours.

4. Unlinked markets. Prices shown on one extended-hours trading system may not reflect prices available on other systems trading the same securities at the same time. You may receive a different price on one system than another.

5. News announcements. Issuers and other sources often release important news or financial information outside regular market hours. Combined with lower liquidity and higher volatility, these announcements may have an exaggerated or unsustainable effect on a security’s price.

6. Wider spreads. The spread is the difference between the price at which you can buy a security and the price at which you can sell it. Lower liquidity and higher volatility outside regular market hours may result in wider than normal spreads.

7. Unavailable index values or intraday indicative values. For certain derivative securities products, updated underlying index values or intraday indicative values may not be calculated or publicly disseminated outside regular market hours. Investors who cannot calculate implied values for those products may be at a disadvantage to market professionals.

Additional overnight-specific risks

1. Limited ATS liquidity and delayed trade reporting. Clear Street provides enabled clients with access to multiple alternative trading systems during overnight hours. These venues may have very limited liquidity and high volatility, are not required to publicly display prices, and trades are reported to FINRA Trade Reporting Facilities on a delayed basis.

2. No price protection. Orders transmitted for execution during overnight hours are not price protected and may be executed by market centers at prices inferior to those available at other market centers.

3. Operational issues and lower service levels. Overnight trading may be subject to additional operational issues, including delays in execution and lower overall service levels due to differences in staffing or technology compared with normal market hours.

4. Availability may change without notice. Not all securities may be available for execution during overnight hours, and Clear Street may suspend access to one or more overnight alternative trading systems at any time without notice.

For the full legal disclosure, open the PDF below and review “Extended Hours Trading Risk Disclosure Statement: FINRA Rule 2265”, pages 12 - 13.

Clear Street - Disclosures.pdf

If your order does not show the status you expect

If a queued or overnight order does not show the status you expect on web, check the order on mobile before contacting Support. In some cases, the same order may display differently across platform surfaces.

Contact Support if...

• Your order does not show the status you expect on either platform.

• A live overnight order cannot be canceled.

• You are not sure whether a specific order type or instrument is eligible for the overnight session.

See also

• 📄 Market Hours and Extended-Hours orders

• 📄 Order Status, Fills, Cancellations, and Rejections