Trading Rules
U.S. Stock Market Regular Trading Hours
| U.S. Eastern Standard Time (EST) | 09:30 AM – 16:00 PM | |
| China Standard Time | 10:30 PM – 05:00 AM | Standard Time |
| 09:30 PM – 04:00 AM | Daylight Savings Time | |
Daylight Savings Time starts from the second Sunday in March and ends on the first Sunday in November each year. Standard Time starts from the first Sunday in November and ends on the second Sunday in March each year.
U.S. Stock Trading and Settlement Mechanism
Day Trading
Day trading is a mode of trading where a client buys or sells a certain stock or stock option position on the same trading day. Day trading is often referred to as T+0 trading. Longbridge accounts can engage in unlimited day trading.
Short-Selling Rules
Support the short-selling of U.S. stocks.
Clearing Rules
U.S. stocks are subject to a T+1 closing system under which the clearing and closing process is not completed until the first business day after the transaction.
Minimum Board Lot Size and Price Limits for U.S. Stocks
The minimum board lot size for U.S. stocks is 1 share (odd lot trading is currently not supported), and there is no single-day price limit
Minimum Stock Tick Size
Minimum stock tick size: USD 0.0001 for stocks trading under USD 1 and USD 0.01 for stocks trading above USD 1
Are Pre-Market and After-Hours Trading Supported?
Pre-market and after-hours trading of U.S. stocks outside of continuous trading hours is permitted. Pre-market and after-hours orders will be submitted to the exchange for order matching. Nasdaq has a special pre-market and after-hours trading session, while various securities brokers have different requirements for the hours of pre-market and after-hours trading sessions. Longbridge’s trading platform regulations are as follows.
| Pre-market trading hours for U.S. stocks | 4:00 a.m. - 9:30 a.m. (ET) | |
|---|---|---|
China (Daylight Savings Time): 4:00 p.m. - 9:30 p.m. | China (Standard Time): 5:00 p.m. - 10:30 p.m. | |
| After-hours trading hours | 4:00 p.m. - 8:00 p.m. (ET) | |
| China (Daylight Savings Time): 4:00 a.m. - 8:00 a.m. | China (Standard Time): 5:00 a.m. - 9:00 a.m. | |
| After-hours trading hours for U.S. stocks on half-day trading days | 1:00 p.m. - 5:00 p.m. (ET) | |
| China (Daylight Savings Time): 1:00 a.m. - 5:00 a.m. | China (Standard Time): 2:00 a.m. - 6:00 a.m. | |
Overnight trading
Longbridge also supports overnight trading. Orders can be placed in Overnight Trading Session, and unfulfilled orders will be cancelled automatically at the end of overnight trading.
Overnight trading hours are from ）8:00 p.m. to 3:50 a.m. (T+1) ET.
What should I pay attention to during overnight trading of U.S. stocks?
- Overnight trading falls under over-the-counter transactions, subject to upstream restrictions on order prices.
- During the three-day window of the overnight trading session, if there are corporate actions related to the underlying asset, the orders may be rejected by the upstream.
- On the day of, the day before, and the day after corporate actions, the stock may be unavailable for trading during the overnight session.
- Overnight trading is only supported for Integrated A/C.
- Due to lower liquidity and increased price volatility during overnight trading sessions, along with potential restrictions from upstream brokers and exchanges, your orders may be partially filled or not filled at all. Please be cautious of the associated risks.