Schwab currently offers over 1,200 symbols for overnight trading, up from just 24 when AmeriTrade first started in 2018, he said. Institutions Remain CautiousJessica D’Alton, Head of America’s Market Structure and Liquidity Strategy, Executive Director, UBS represented the institutional perspective, and UBS isn’t trading overnight yet. “Our approach to evaluating participation in overnight trading starts with assessment of client demand,” she said. All three ATSs halt symbols with material corporate actions like splits to allow brokers to update their systems, but it’s an imperfect process. “Corporate actions are a big piece, and this is really going to force everybody in the industry to sharpen their focus,” said Coulson.