Outside Regular Trading Hours
Trading outside of regular trading hours is possible via LYNX. This feature allows you to trade before the regular market opens and after it closes, providing greater flexibility around market-moving events.
Disclaimer
Trading outside regular market hours involves additional risks, including lower liquidity, wider spreads, and higher price volatility. These factors may result in less favourable execution prices or order rejections. Investors should ensure they understand these risks before trading in extended sessions.
Regular trading hours on US exchanges such as the NYSE and Nasdaq are from 09:30 to 16:00 local time. On German exchanges such as Xetra, regular trading hours are from 09:00 to 17:30. Some trading venues also offer trading before and after these regular hours.
LYNX+
In LYNX+, after selecting the financial instrument and opening the order ticket, you can choose the option Fill/Trigger outside RTH. Once selected, you can create and submit your order.
Trader Workstation
- New Order Ticket
Once you open the TWS platform, click on the Order button at the top left corner. This will open an order ticket where you need to fill in various details such as the ticker symbol, order type and order price. On the right side, you may select the option Allow the order to be filled outside of regular trading hours (if available for the instrument). After reviewing all details, you can transmit the order.
- Adjust Order Row
If you already have an order row open in TWS, you can modify it to allow execution outside regular trading hours. To do this, enable “Fill outside RTH” in the TIF column.
It is possible to configure your settings so that orders may by default include the option to be filled outside of regular trading hours, if supported for the instrument and venue. Instructions can be found in the FAQ below.
LYNX Trading App
In the LYNX Trading App, when creating an order (e.g. using a limit order type), you can enable the Outside RTH option in the order ticket if available. Once reviewed, the order can be submitted.
FAQ
How to add Outside Regular Trading Hours to a preset?
TWS
Click on Edit in the menu bar and then select Global Configuration. On the left side, click on Presets and select a financial instrument. On the right-hand side, you will find the presets for the selected financial instrument. Here, you need to check the option Allow order to be activated, triggered, or filled outside of regular trading hours (if available). After that, click Apply and OK.
LYNX Trading App
Navigate to the main menu and select Settings. In the next window, choose Trading Settings and then select Trading Presets. In this step, choose the financial instrument and then tap on the Timing option, where you need to activate the slider in the Outside Regular Trading Hours field.
Please be aware: You have to apply these settings for every product type on it’s own.
Which products can I trade outside regular trading hours?
Among other things, you can trade shares and ETF’s outside regular trading hours. You can also trade futures contracts outside so-called liquid trading hours. This is not possible with warrants and certificates, options or CFD’s.
Where can I view the trading hours of a security?
You can view the trading times of a security with just a few clicks in the Trader Workstation. To do this, double-click on the name of the financial instrument (Company Name column) to open its description. Under the Trading Schedule section, the regular and total trading hours of the selected security are displayed.
What risks appear when trading outside regular trading hours?
Trading outside standard hours carries risks such as lower liquidity, wider bid/ask spreads, and potential partial or non-execution of orders. Investors should carefully consider these factors before placing orders outside regular hours.
What is the cost of trading outside regular trading hours?
No additional explicit fees are charged for trading outside regular market hours; standard commissions and applicable exchange fees remain the same. However, it is important to understand that overall trading costs may still be higher in practice.
This is because trading activity is typically lower outside regular hours, which can lead to wider bid-ask spreads and reduced liquidity. These market conditions may affect execution quality and result in less favourable pricing compared with trades executed during standard trading sessions.
Which order types are supported for trading outside regular trading hours?
Outside regular trading hours, typically only Limit and Trail Limit orders are supported. Market and Stop orders are generally not executed.
An exception applies to certain futures contracts, where Market and Limit orders may also be processed outside liquid trading hours. You can also configure this for the order type Stop in the order settings. It’s worth noting that for Market (MKT) orders, ORTH indication is not required in the order parameters, whereas for Stop (STP) orders, ORTH indication is necessary.
An overview of the common order types via LYNX can be found here.
Is it possible to trade US financial instruments overnight?
Yes, overnight trading (02:00 – 09:50 CET) with US stocks is possible. In addition, it is also possible to trade Cboe S&P 500 Index options and CME Group S&P 500 Index options on futures.
A list of securities available for overnight trading can be found here.
Is it possible to trade US financial instruments overnight via LYNX?
Yes. More than 10,000 US-listed stocks and ETFs can be traded overnight via LYNX. Cboe S&P 500 Index options and CME Group S&P 500 Index futures and options are also available.
US stocks and ETFs can be traded from 20:00 to 03:50 ET, from Sunday evening through Friday morning. Existing US stock trading permissions are sufficient, and overnight US stock market data is available free of charge.
See the OVERNIGHT exchange listing for the available stocks and ETFs.
Overnight orders are valid for one session and are handled separately from orders placed during regular or extended trading hours. Unexecuted orders expire and must be resubmitted for the next session.
How do I set an overnight trading order via LYNX+?
- Use the search bar in the top-right corner to find the desired stock by name, ISIN code, or ticker symbol.
- Once you’ve selected the instrument, click on Buy or Sell to open the order ticket.
- In the order ticket, select the OVERNIGHT destination at the top next to ISIN code and market related to the stock. Default this is set to SMART.
- Set the Order Type to Limit, as overnight trading requires limit orders due to lower liquidity. Specify the Quantity and Limit Price for your order.
- After creating the order ticket according to your preferences, click Preview Order to review the details. If you are satisfied with the order settings, submit the order by clicking Confirm Order. Depending on the specifics of the order, your order may be executed immediately or appear as pending in the Open Orders tab.
How do I set an overnight trading order via the mobile app?
To place an overnight trading order via the LYNX Trading app, follow these steps:
- Via the Trade Menu, search the ticker symbol of the stock or ETF you wish to trade.
- Choose the appropriate action (Buy or Sell) for your order.
- Enter the number of shares you intend to trade.
- Due to lower liquidity during overnight hours, only Limit orders are accepted. Ensure that the Time in Force is set to “Day”.
- Locate the “Overnight Trading” checkbox/slider and enable it. Overnight Trading will appear next to the product’s name, indicating that the order is designated for overnight trading.
- Review the order details. Once satisfied, click/slide “Submit” at the bottom of the order ticket to place the order.
How do I set an overnight trading order via TWS?
Within the Order Entry panel in TWS, users can view and modify the order destination by clicking the Advanced expansion menu located at the lower right. In the Destination dropdown menu at the upper left of the Advanced pop-up window, click the down arrow to reveal the exchange and routing options. By default, the selection is set to SMART. From the list, select the OVERNIGHT venue to enable overnight trading.
Alternatively, you can set an overnight trading order directly via the Time in Force menu:
- Enter the ticker symbol in TWS.
- Select Buy or Sell and input the desired quantity.
- Due to lower liquidity during overnight hours, only Limit orders are accepted; therefore, enter a limit price.
- From the Time in Force dropdown menu, check the Overnight Trading box. A yellow crescent moon icon will appear to the left of the Time in Force selection box, which is set by default to Day.
Note: Overnight orders remain active for a single session. If they are not filled overnight, the orders will expire and be removed from the system. Clients will need to resubmit a new overnight limit order for the following session.