Robinhood says there will be no 24-hour trading on Monday due to issue at third-party venue

Brokerage firm Robinhood announced that it would suspend overnight trading due to an issue with its execution venue. The suspension affects Robinhood’s 24-hour market, which is facilitated by a third-party firm called Blue Ocean ATS (BOATs). The brokerage stated that orders open as of 8 PM ET will be executed starting at approximately 4 AM ET the following day, but it remains unclear if the suspension will extend beyond early Tuesday morning or impact other firms offering overnight trading. This announcement follows technical difficulties experienced by other brokerage firms, such as Charles Schwab, on Monday. The global markets faced a significant sell-off, with the Dow Jones falling by over 1,000 points and the S&P 500 registering its worst day since 2022. Robinhood had introduced 24/5 trading in May 2023, and overnight trading is typically limited to highly liquid stocks and ETFs.

Robinhood Suspends Overnight Trading Due to Execution Venue Issue

Robinhood has announced the suspension of overnight trading due to an issue with its execution venue, Blue Ocean ATS (BOATs). The company’s 24-hour market will be affected, with orders placed before 8 PM ET executed the following day at approximately 4 AM ET. It remains uncertain whether the suspension will extend beyond early Tuesday morning or impact other brokerage firms offering overnight trading. This development follows technical difficulties experienced by other firms, including Charles Schwab, on Monday. The global markets saw a substantial sell-off, with the Dow Jones dropping over 1,000 points and the S&P 500 recording its worst day since 2022. Robinhood introduced 24/5 trading in May 2023, and overnight trading typically involves highly liquid stocks and ETFs.