Robinhood announces that 24-hour trading will not be available on Monday due to a problem at a third-party venue.
On Monday evening, the brokerage firm declared that it would not provide overnight trading because of a problem with its execution platform.
Robinhood's third-party firm, Blue Ocean ATS, has suspended its overnight market, as stated in a post on social media site X by the company.
The Blue Ocean ATS (BOATs) execution venue of Robinhood 24 Hour Market has halted overnight trading for tonight. Any 24 Hour Market orders that are open as of approximately 8 PM ET will be executed starting at approximately 4 AM ET tomorrow. You have the option to cancel your order at any time and can still place an order for another trading session.
The suspension of overnight trading may continue beyond early Tuesday morning, and it is unclear if other brokerage firms that offer overnight trading are affected.
Several firms, including Robinhood, experienced technical issues on Monday that temporarily prevented some of their users from accessing their brokerage accounts.
On Monday, there was a significant decline in global markets, with the dropping over 1,000 points and experiencing its worst day since 2022.
In May 2023, Robinhood introduced "24/5 trading," which ran from 8 p.m. ET on Sunday to 8 p.m. ET on Friday. Overnight trading is typically restricted to the most liquid stocks and ETFs in the market.
Blue Ocean did not immediately respond to a request for comment.
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