Ram Financial LLC, doing business as Aries, offers extended hours trading in certain eligible securities.
Extended hours trading includes trading before and after the regular market session. Regular market hours are generally 9:30 a.m. to 4:00 p.m. Eastern Time.
Aries currently supports:
- Pre-market trading from 4:00 a.m. to 9:30 a.m. ET
- After-hours trading from 4:00 p.m. to 8:00 p.m. ET
Extended hours trading may not be available for every security. Trading hours and availability may also change based on market conditions, holidays, system availability, or trading venue restrictions.
Only eligible limit orders may be executed during extended hours. Fractional share orders, market orders, stop orders, and other order types may not be eligible.
Before placing an extended hours order, you should understand the following risks.
Lower Liquidity
There may be fewer buyers and sellers during extended hours. This may make it harder to execute your order. Your order may only be partially filled or may not be filled at all.
Higher Volatility
Prices may change more quickly during extended hours. A security’s price may move significantly over a short period of time.
Wider Spreads
The difference between the bid price and ask price may be wider during extended hours. This may cause you to pay more when buying or receive less when selling.
Changing Prices
Prices during extended hours may be different from the security’s closing price or the price available when the regular market opens.
Unlinked Markets
Extended hours trading may occur across different trading venues. The price shown on one venue may be different from the price available on another venue.
News Announcements
Companies often release earnings reports and other important news outside regular market hours. This news may cause significant price changes when fewer market participants are trading.
Quotes and Executions
A displayed quote does not guarantee that your order will be executed at that price. Quotes may change before your order reaches the market, and the number of shares available may be limited.
A limit order will only execute at your limit price or better. However, a limit order does not guarantee execution.
Order Cancellations
You may request to cancel an open order, but cancellation is not guaranteed. Your order may be partially or fully executed before the cancellation request is processed.
System Issues
System delays, market data issues, internet problems, trading venue outages, or other technical issues may delay or prevent the entry, cancellation, or execution of an order.
Customer Responsibility
Aries accounts are self-directed. You are responsible for reviewing your order, including the security, quantity, limit price, trading session, and order status.
Extended hours trading involves additional risks and may not be appropriate for every investor.
By placing an extended hours order, you acknowledge that you have read and understand this disclosure.
Brokerage services are offered through Ram Financial LLC, doing business as Aries, a registered broker-dealer and member of FINRA and SIPC.