The Bruce Overnight Edge: A Market-Moving Event Is Here

The Bruce Overnight Edge: A Market-Moving Event Is Here

October 31, 2025 - Chicago, IL

To Our Valued Clients,

Welcome to the inaugural issue of The Bruce Overnight Edge, your new weekly briefing from Bruce Markets. Our mission is to deliver the key statistics and actionable information driving opportunities in the overnight session and beyond.

We are launching this newsletter at a pivotal moment. The most significant event for the overnight market this year is scheduled for next week: the return of South Korean retail flow on November 4th.

By the Numbers: Why This Matters

To understand the potential impact, we must look at the data.

Before the Blue Ocean trading outage in August 2024, South Korean traders were a dominant force in the after-hours market. Their absence has fundamentally altered the market’s texture.

  • In 2024, with South Korean participation, the average share price traded in the overnight session was approximately $18.
  • In 2025, without that flow, the average share price has tripled to approximately $54.

This data1 clearly shows their preference for trading in low-dollar stocks.

What to Expect Next Week

The market they are re-entering is not the one they left. New overnight venues, including the BRUCE ATS and MOON ATS, have launched. Critically, Korean regulators now require firms to have a backup destination, a direct response to mitigate the single point of failure from last August. Also, brokers now offer smart routers that source liquidity from multiple venues and can bring value to investors in the form of price improvement opportunities and market center redundancy.

While the full impact is unknown, we are modeling two immediate effects:

  1. A significant increase in overall overnight volume.
  2. A potential decrease in the market’s average share price as action in low-dollar stocks heats up.

We will be tracking this shift closely and will report on the new data right here next week.

Thank you for reading, and welcome to The Bruce Overnight Edge.

The Bruce Markets Team

1All share price figures are from internal and public sources, 2024-present