The Bruce Overnight Edge: Smashing Records
December 12, 2025 - Chicago, IL
By The Numbers1
The data from this week confirms that liquidity is consolidating on the Bruce ATS. On Thursday, December 11th, Bruce Markets set the following new all time highs:
- Traded Shares: 3.2M
- Traded Notional: $272M
- Executions: 56k
Beyond the raw volume records, we hit a massive milestone in market share. On Wednesday, December 10th, Bruce Markets captured 10% notional market share2 for the overnight session. This double digit market share is a testament to the depth and quality of liquidity our subscribers are providing.
Overnight in the News
The industry continues to chase the overnight market. BMLL Data3 recently hosted an insightful webinar titled “Understanding US Market Data Evolution: Odd Lots, SIP Changes, and 24-Hour Trading”. Starting at the 14:05 mark, the discussion highlights the rapid market structure evolution in the overnight session. They specifically discuss the return of South Korean order flow and the emergence of new competitors in the overnight space like Bruce Markets. BMLL specifically mentions that their data is from FINRA and is therefore several weeks delayed and does not show some of the growth we have been reporting here.
Also, expect more updates from our CEO Jason Wallach’s recent Korea trip next week!
Bruce Notes
- We are working on a daily aggregated symbol level metrics file covering Bruce ATS activity and market quality. If you are interested in receiving this file, please contact sales@brucemarkets.com.
- Bruce distributes a daily Halt Trading list via email before each overnight session, if you aren’t yet receiving it and would like to please contact sales@brucemarkets.com.
- End of Year Holiday Schedule
- Wednesday December 24, 2025 - No overnight session
- Thursday December 25, 2025 - Regular overnight session starting at 8:00pm ET
- Wednesday December 31, 2025 - No overnight session
- Thursday January 1, 2025 - Regular overnight session starting at 8:00pm ET
The Bruce Markets Team
1Bruce ATS internal numbers through trade date 12/05/2025
2Including BOATS, MOON, and Bruce ATS data only
3BMLL is an independent firm, this is not an endorsement, sponsorship or recommendation of the data; Bruce Markets has no ownership or partnership with BMLL. For any questions, please contact the BMLL directly.