Overnight Trading Price Fluctuation ±20% Limitation Explanation
The overnight trading service reminds us that we open each symbol based upon the closest print to 7:30 pm ET in the post market session. We will not allow a limit order (via a reject) to be priced beyond 20% (aggressive) of that reference price.
Example - Symbol XYZ reference price from 7:30 pm ET data pull is $10. Therefore, we will reject any bid priced at 12.01 or greater and any offer priced at 7.99 or less at our 8 pm ET Open. This 20% +/- range ( 8.00/12.00) will remain in effect throughout the Overnight Trading Session to prevent a symbol from trading at extreme fluctuations/ranges from the Post Session.
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