The Bruce Overnight Edge: NVDA is Tight!
January 23, 2026 - Chicago, IL
Commitment to Market Quality
Bruce ATS is committed to examining and improving the overnight retail experience. We believe that a robust overnight session requires more than just uptime. It requires consistent, high-quality liquidity.
Did You Know?
To measure this, we performed a study on Nvidia (NVDA), one of our most active symbols. We analyzed our market quality for NVDA last week (Jan 12th to 16th 2026)1.
The math is straightforward. The Bruce overnight session is 8 hours long, which equals 28,800 seconds. In a week, we have 5 sessions which equals 144,000 seconds of market time.
Coverage - The first critical metric we studied was coverage. Of those 144,000 seconds, how often did Bruce have a valid 2-sided spread?
- Seconds with 2-Sided Quote: 143,995.70
- Seconds with No or 1-Sided Quote: 4.30
This means Bruce ATS had a valid 2-sided quote for 99.985% of the week in NVDA and coverage was clearly not an issue.
Spread Width - Coverage is important, but spreads also need to be tight for a great retail experience. For the time period covered in this study, NVDA quoted at 91 distinct widths ranging from $0.01 to $13.46.
It is clear that for the vast majority of the week, clients trading NVDA on Bruce ATS were interacting with tight, high-quality spreads.
Quote Size - The amount of shares available at the inside spread is obviously a critical metric to judge market quality as well. The current study was focused on coverage and spread width and did not cover quote size. Stay tuned for future analysis that addresses the question of quote size.
By The Numbers
Weekly Top Ten Symbols2
Notes
- Curious about market quality statistics in another symbol or market data in general? Email sales@brucemarkets.com to learn more.
The Bruce Markets Team
1The results of this week are not indicative of future performance. 2All data is from internal Bruce ATS sources through trade date 01/23/2026.