Interactive Brokers, an automated global electronic broker, has introduced overnight trading hours on the IBKR Eos ATS (IBEOS), allowing clients to trade select US ETFs 23.5 hours a day, five days a week.
Interactive Brokers clients can now react instantly to news moving in the market and trade virtually anytime. In addition, Interactive Brokers’ Asian clients seeking access to US equity markets during their trading day will benefit from intraday trading hours on IBEOS.
According to Steve Sanders, vice president of marketing and product development at Interactive Brokers, the company has a large customer base in Asia, with 39% of its customer accounts in the APAC region.
“That was the main reason we launched this offer,” he said.
“As a truly global broker, Overnight Trading Hours offers Asian clients the ability to access US stock markets during their trading day, allowing investors to trade globally and react to market action news almost anytime,” he told Traders Magazine.
Sanders said global investors need to react to market-moving news whenever it happens, and not just during normal US market hours.
“With overnight trading hours on IBEOS, our retail and institutional clients now have greater trading flexibility and can take advantage of 24/7 investment opportunities,” he noted.
Interactive Brokers offers day trading on IBEOS in the following 24 popular US ETFs: FXI, SPY, EEM, GLD, SLV, DIA, UNG, TLT, IWM, QQQ, USO, SH, RWM, PSQ, AGG, DOG, EWA , EFA, EWJ, IJH, VTI, XLF, XLE and XLK.
Night trading hours on IBEOS are from 8:00 p.m. ET to 3:30 a.m. ET, with the first session of the week starting at 8:00 p.m. ET on Sunday and the last session of the week ending at 3:30 a.m. ET Friday.
All trades that occur during the night trading session are scheduled to settle as if they occurred during the next regular US trading session.
All clients with a US stock trading license have access to overnight trading on IBEOS and can benefit from multiple order types and free overnight market data.
“We’ll see how it goes and if there’s good response and client demand, we’ll consider adding more asset classes,” concluded Sanders.