As 24-hour trading continues to capture industry interest, brokerage firm Clear Street has partnered with markets operator OTC Markets Group to give clients access to two more overnight venues.
The OTC MOON alternative trading system (ATS) provides access to national market system securities listed on major exchanges during the overnight session, while OTC Overnight covers a number of actively traded OTC equity securities.
OTC’s ATS reported 2.1 million trades in Q4 2024, according to FINRA data. OTC MOON, which launched earlier this year, has not yet released volume figures.
“[This] enables clients to capture opportunities across time zones, particularly in the APAC region,” explained Peter Eliades, head of electronic execution at Clear Street.
The announcement is the latest in Clear Street’s 24-hour journey. In March, the firm partnered with Blue Ocean Technologies to expand to a 24/6 trading format, offering after-hours execution through a continuous FIX session throughout the week.
US exchanges have already begun to offer 24-hour trading for equities, with NYSE and Nasdaq launching 24/5 – and Cboe 24/6 – capabilities. To keep up with growing demand for all-hours trading, the Depository Trust and Clearing Corporation (DTCC) introduced 24/5 clearing hours for its National Securities Clearing Corporation (NSCC).
READ MORE: DTCC prepares for 24-hour trading onslaught
Brokerage firms are adapting in tandem. Interactive Brokers has provided overnight trading services for US stocks since 2023, and ETFs since 2022. Last year, the firm added equity index options to the suite. Schwab also provides overnight trading for all S&P 500 and Nasdaq 100 equities, alongside exchange-traded funds (ETFS).
Following its acquisition of algo trading firm Fox River last year, Clear Street intends to provide execution services for options and fractional trading in a 24-hour environment in the future.
