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After hours, some market makers (notably NITE) are around and active.
SelectNet is the only way to hit (or attempt to hit) them. No SOES order
route available. MMs don't have to "fill or move within 20 seconds" like
normal market hours, they can just sit there.
The benefits.
No uptick needed to short.
ECNs can lock or cross market.
Limited liquidity means large volatility.
----- Original Message -----
From: <Sigstroker@xxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, May 24, 2000 2:01 AM
Subject: Re: After Hours Trading
> What happens is the same as during ordinary hours except it's later or
> earlier. From a clinical view, the main difference is there are no market
> makers and no SelectNet. All the trades are done through ECN's. Some
brokers
> use the new X-whatever it is (not familiar with it).
>
> In a message dated 5/23/00 5:59:14 AM Pacific Daylight Time,
> susan_k@xxxxxxxxx writes:
>
> > Hi All,
> > Thanks to everyone who responded to me wrt my last question about
on-line
> > stock order execution services. I found one I think I like and have
been
> > using them for about two weeks. My question now is about after hours
stock
> > trading. My broker does not offer this and I feel like I'm missing
out.
> > Can someone explain what physically happens with an after hours trade
(as
> > opposed to one done during market hours) and if anyone finds it
beneficial
> > enough that I should consider switching to a different broker.
> >
> > TIA,
> > Susan
>
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