Exegy Announces First-ever Overnight BBO Feed for After-hours Trading Venues

Exegy, a leading provider of market data, trading technology, and managed services for the capital markets, today announces that it will uniquely offer the first-ever overnight consolidated feed, comprising of all three after hours Alternative Trading Systems (ATS). This will allow clients to easily perform best price discovery, filling a structural gap in overnight markets. Axiom will also offer market data access to these ATSs with connectivity currently in development and is expected to be delivered in Q1. 

The connection to Bruce ATS™, Blue Ocean ATS and MOON ATS will enable market participants to capture liquidity unavailable on traditional exchange feeds during after-hours markets. The Overnight Best Bid and Offer (OBBO) consolidated feed provided by Exegy, similar to a Securities Information Processor (SIP), will provide real-time information on the best price for a specific security instrument, eliminating the need for clients to calculate it themselves. 

Arnaud Derasse, CTO of Exegy, said: “As participants continue operating across time zones, we are seeing major interest towards extended or after-hours trading venues. The addition of these three ATSs, along with the Exegy live calculated OBBO, will enrich the consolidated market data our clients have access to via Axiom, providing them with a more complete market view with simplified overnight best price discovery.” 

As the market evolves from extended trading hours towards 24/5, the initiative to cover overnight ATSs ensures institutional investors’ infrastructure is equipped to take advantage of shifting liquidity in US equities. Exegy’s data-as-a-service solution, Axiom, currently offers connectivity to Blue Ocean ATS, by Blue Ocean Technologies. Bruce ATS™, which utilizes Nasdaq technology, and MOON ATS offered by OTC Markets will become available as Q1 progresses. 

“As trading moves toward a true 24/5 market, access to overnight liquidity is essential,” said Matt Fuchs, EVP, Market Data at OTC Markets Group. “With almost 15 years of building and operating ATSs, we’re thrilled to bring MOON ATS market data to Exegy’s Axiom, giving investors the tools to capture opportunities across US equities anytime, anywhere.” 

All three overnight venues will be available through Axiom via Exegy’s New York Point of Presence, with Top-of-Book (L1) or Depth-of-Book (L2) options. The OBBO service will be offered as a separate, standalone feed offering based on each of the three venues’ Top-of-Book feeds (L1).

Expanding coverage to include overnight ATS venues in Exegy’s global market data offering is one of several ways Exegy continues to support its growth strategy and reinforce its commitment to proactively address market shifts and evolving client needs. Further expanding the offered coverage, in Q4 2025, Axiom integrated real-time, low-latency Canadian equity data via the TMX Information Processor (TMX IP), a TMX Datalinx product.