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24/7 trading is a bad idea. https://t.co/SPeK4Lwdrw
It sounds like Blue Ocean market makers had substantial losses from idiotic trades in a very small number of issuers, and decided to break all trades between 1:45 and 3am, even though the majority of those were based on genuine price discovery. https://t.co/cAS318cHrQ
Overnight trading is a sham, Blue Ocean "turned off" at 3:06am ET, so now all trades at $IBKR after 145am are null and void. What a joke...don't offer Overnight trading then... Some low tick $AMZN and other trades going to be reversed from early Monday morning
Overnight trading has come under scrutiny following issues with Blue Ocean ATS, the execution venue for Robinhood's 24 Hour Market. Reports indicate that trades executed after 1:45 AM ET on August 5 were nullified due to a suspension of overnight trading by Blue Ocean, which reportedly turned off its services at 3:06 AM ET. Traders expressed frustration over the retroactive removal of certain trades, resulting in significant financial discrepancies. For instance, one trader noted that a position in Tesla (TSLA) was reversed, leading to large losses instead of anticipated gains. The situation has raised concerns about the reliability of 24/7 trading and the operational integrity of platforms like IBKR and Blue Ocean, with some traders labeling the overnight trading system as unprofessional and flawed. The suspension of overnight trading is expected to continue, with orders open as of approximately 8 PM ET being routed for execution starting at around 4 AM ET the following day.