Overnight Trading ATS
By providing a credible source of liquidity for U.S. broker-dealers and their clients, Bruce ATS is redefining after-hours trading worldwide.
Operating Hours
Bruce ATS supports trading in National Market System (NMS) securities during the overnight session.
Note: If the following day is a U.S. market holiday, Bruce ATS will not operate its trading session during the night prior. Market holidays can be viewed here.
Subscriber
Only U.S. registered broker-dealers are eligible to access Bruce ATS.
Non-Subscriber
Foreign broker-dealers, financial institutions and other non-broker-dealer market participants can access Bruce ATS via a U.S. registered broker-dealer subscriber.
Institutional-Grade
Market Structure
Our clear rules and defined safeguards help ensure all participants trade in a fair, transparent and well-governed overnight market.
Orders and Matching
Bruce supports day limit orders and IOC orders from routing firms. We match using price/time priority during the Trading session.
Price Protection
Trades are constrained by price bands (±20% from the reference price).
Session Handling
Orders are accepted during the overnight session; unexecuted orders are canceled at the session close.
Seamless Connectivity
Connecting to Bruce ATS is a straightforward process designed for production environments, with order entry via the standard FIX 4.2 protocol and connectivity directly in Equinix NY4 or via supported extranets.
Take the next step toward overnight U.S. trading.
Contact UsOvernight Market Data
Bruce ATS market data is distributed in partnership with Nasdaq Data Services and includes Level 1, Level 2 and Last Sale data.
Multiple Ways to Consume
Direct to the matching engine
Direct to Nasdaq Data Services
Via your preferred market data redistributor
Frequently Asked Questions
Bruce ATS is an alternative trading system (ATS) that provides liquidity and execution services for U.S. Reg NMS equity securities (NMS stocks) during overnight hours. Bruce Markets LLC is an SEC registered broker-dealer and a member of FINRA and SIPC. Check the background of Bruce Markets LLC at FINRA BrokerCheck. More information on Bruce ATS is available on the SEC website.
Bruce ATS operates from 8:00 p.m. ET to 4:00 a.m. ET. Orders can be accepted and queued starting at 7:50 p.m. ET, and unexecuted orders are canceled at the end of the session.
Bruce runs the overnight session five days a week, beginning Sunday evening (U.S.) and ending Friday morning (U.S.). If the next business day is a U.S. market holiday, Bruce does not operate the night before.
Bruce ATS is approved to trade Reg National Market System (NMS) equity securities (U.S. NMS stocks).
Bruce ATS only accepts limit orders with time-in-force of "Day" or Immediate-or-Cancel ("IOC").
Bruce enforces ±20% price bands from a reference price defined as the last sale closest to 7:30 p.m. ET. These protections are designed to help prevent executions far away from prevailing reference levels during the overnight session.
Orders that remain unexecuted are automatically canceled at 4:00 a.m. ET when the session ends.
Yes. Bruce ATS may suspend trading in certain symbols for a variety of reasons, including but not limited to pending corporate actions, regulatory halts, etc., to support and maintain market fairness and operational stability.
Bruce supports two primary access paths:
Subscribers – Only U.S. registered broker-dealers are eligible to access Bruce ATS.
Non-Subscriber Participants – Foreign broker-dealers, financial institutions and other non-broker-dealer market participants can access Bruce ATS via a U.S. registered broker-dealer subscriber.
Trades on Bruce ATS are cleared and settled through DTCC in the normal T+1 settlement cycle.
Bruce ATS distributes Level 1, Level 2 and Last Sale data through Nasdaq Data Services and select data partners, providing real-time overnight price discovery.