Extended hours trading

For Stock and ETF trading, we are introducing Extended Hours Trading (EHT) for Kraken Pro and the Kraken Pro App. EHT includes a new Time in Force (TIF) order type called Day+, an extension of the Day TIF order type. This additional TIF allows you to place limit orders (buy/sell) that initially remain open during the EHT session, which runs from 4:00 AM to 8:00 PM ET.

Note: Day+ orders submitted outside of EHT will be queued for the next trading session.

Stocks trading sessions are as follows:

  • •

    Pre-Market: 4:00 AM – 9:30 AM ET

  • •

    Regular Market Hours: 9:30 AM – 4:30 PM ET

  • •

    Post-Market: 4:30 PM – 8:00 PM ET

EHT adds the Pre-Market and Post-Market trading sessions to the Regular Market session.  This means EHT trading is available Monday through Friday from 4:00 AM to 8:00 PM ET for all eligible securities.

  1. 1

    Open the Kraken Pro App, or go to pro.kraken.com, and navigate to the Markets tab. Here, you'll find Stocks & ETF markets.

  2. 2

    Pick the stock or ETF you wish to buy.

  3. 3

    Select Buy/Sell, then select Limit from the Order Type dropdown.

  4. 4

    In the Total field, enter the amount you want to buy/sell. In the Limit Price field, you can specify the price you're willing to pay/receive per share.

  5. 5

    Under “Time in force”, choose Day+ (Extended Hours) as your time-in-force option. This makes your order active beyond regular market hours.

  6. 6

    Tap Buy/Sell to place your limit order.

Important considerations to keep in mind with EHT

Liquidity refers to the ability of market participants to buy and sell securities. Generally, the more orders that are available in a market, the greater the liquidity. Liquidity is important because with greater liquidity it is easier for investors to buy or sell securities, and as a result, investors are more likely to pay or receive a competitive price for securities purchased or sold. There may be lower levels of liquidity in extended hours trading as compared to regular trading hours. As a result, your order may only be partially executed, or not at all.

Volatility refers to the changes in price that securities undergo when trading. Generally, the higher the volatility of a security, the greater its price swings. There may be greater levels of volatility in extended hours trading than in regular trading hours. As a result, your order may only be partially executed, or not at all, or you may receive an inferior price in extended hours trading to what you might receive during regular trading hours.

The prices of securities traded in extended hours trading may not reflect the prices either at the end of regular trading hours, or upon the opening of the next morning. As a result, you may receive an inferior price in extended hours trading to what you might receive during regular trading hours.

Depending on the extended hours trading system or the time of day, the prices displayed on a particular extended hours system may not reflect the prices on other concurrently operating extended hours trading systems dealing in the same securities. Accordingly, you may receive an inferior price on one extended hours trading system than you might receive on another extended hours trading system.

Normally, issuers release news announcements that may affect the price of their securities after regular trading hours. Similarly, important financial information is frequently announced outside of regular trading hours. In extended hours trading, these announcements may occur during trading, and if combined with lower liquidity and higher volatility, may cause an exaggerated and unsustainable effect on the price of a security.

The spread refers to the difference in price between what you can buy a security for and what you can sell it for. Lower liquidity and higher volatility in extended hours trading may result in wider than normal spreads for a particular security.

Orders placed in overnight trading might not receive the best possible price and could be filled at prices less favorable than those found in other markets. If your order isn't filled before the next regular trading session begins, it may be canceled. Please note that Kraken Securities may suspend extended hours trading at any time.


Full risk disclosures are available for review here.

Fractional shares are illiquid outside of the Kraken Securities platform and are ineligible for transfer. For information about fractional shares, please review the applicable sections of the Customer Agreement and full disclosures available here.

 

These materials are for informational purposes and not investment or financial product advice or a recommendation or solicitation to trade any security. All investing involves risk, including loss of your investments.

 

If you have any questions, please contact our support team.

Important considerations to keep in mind with EHT

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