Market hours explained

xStocks are available for trading on Kraken 24 hours a day, five days a week. Trading is open from 8:00 PM ET on Sunday through 8:00 PM ET on Friday, with continuous access during this period. Note that trading is not available on weekends (from 8:00 PM ET Friday to 8:00 PM ET Sunday) when the market is closed. Trading is not available on market holidays.

Trading periods explained:

  • •

    Overnight: Refers to the time after after-hours and before pre-market. 

    Period: 8 PM to 4 AM EST

  • •

    Pre market: Occurs before the regular market session opens.

    Period: 4 AM to 9:30 AM EST

  • •

    Market open: This is the main trading session. This period often aligns with highest liquidity and tightest spreads for tokenized equities, as it mirrors the traditional market activity.

    Period: 9:30 AM to 4 PM EST

  • •

    After hours: Trading that occurs after the regular market session closes. 

    Period: 4 PM to 8 PM EST

Trading Availability and Market Liquidity

You can place and execute trades at any time during the 24/5 trading window from 8:00 PM EST Sunday to 8:00 PM EST Friday across all four trading sessions. The main difference between these sessions is market liquidity. During pre-market, after-hours, or overnight periods, liquidity may be lower, which can lead to greater price volatility. However, this does not restrict your ability to buy or sell during these times.

Reminder

Trading is not available on market holidays.

During non-standard trading hours (pre-market, after-hours, and overnight) there is lower participation from traders, this can make it harder to match trades at desired prices. This means xStocks price can be more volatile during this time.

No, the price is not pegged or fixed at the previous day's closing price. xStocks on Kraken are available for live trading 24/5, with pricing during off-hours derived from the live prices of the underlying equity markets’ extended trading sessions. Specifically:

  • •

    Pre-market and after-hours sessions: We reference live prices from the extended hours markets of the underlying exchanges such as Nasdaq and NYSE.

  • •

    Overnight hours: We reference live prices from Blue Ocean ATS, a venue that provides overnight markets for the underlying equity assets.