What Is After-Hours Trading?

After-hours trading refers to stock trading that takes place outside a stock exchange's regular trading hours. In Japan, it is commonly carried out through a PTS (proprietary trading system).

How it works

A stock exchange has set trading hours (see related page), and trading through the exchange is not possible outside that time. In Japan, using a PTS (proprietary trading system, see related page) operated by a securities firm can allow stocks to be traded outside regular trading hours, such as early in the morning or in the evening.

Points to keep in mind

The stocks available, trading hours, and fees for after-hours trading vary by securities firm, and orders can also be harder to fill (lower liquidity) compared with trading on the exchange. Please check the conditions offered by the securities firm you plan to use in advance.

This article is provided for general informational purposes only and does not recommend or solicit the purchase or sale of any specific investment method or security. Final investment decisions are your own responsibility.

Frequently Asked Questions

Can anyone use after-hours trading?
Whether after-hours (PTS) trading is offered, and during what hours, varies by securities firm. If you wish to use it, please check with the securities firm where you hold your account.
Is the price in after-hours trading the same as the exchange price?
Because after-hours trading takes place on a separate market called a PTS, its price can differ from the exchange price depending on supply and demand.