Hello, I am an American using Interactive Brokers and I was wondering if you could suggest the most liquid ETF to track the US S&P500 or Dow (ideally in USD, but it could be any currency if it's super liquid) on the London or German Stock Exchange? Because I want to be able to short it at 3am before the American market opens and I don't have access to CDS because it's illegal in America. I can't afford the ES mini futures, it would be taking on too much risk.
SPY (US ETF) is still open... until 4am EST... then reopens at 8pm EST. Why do you want to short at 3am? 3am which timezone? Europe/UK/US EST? And, I'm pretty sure the non-native ETF's during after hours will have a shitty bid ask spread...
I don't know... those different time zones really do my head in... I'm in Australia, I think OP is in London or at least Europe... most people on ET are in the US... some EST, some on the West Coast... f&^cking annoying. 9.30am-4pm regular trading, but 4am to 8pm total trading hrs EST time.
You have it backwards. SPY closes at 8PM, then reopens at 4AM. Surprisingly, for the heavily traded SPY, the Bid/Ask spread in the after hours sessions is usually only about 1 or 2 cents. But for other less traded ETFs, the spread can be quite wide.
Yeah I noticed that... that's why I posted the time schedule from IB... After hours in ES is also pretty decent, 0.25 spread which is 0.025 in SPY... Any less traded product is crap to trade IMO. It's all algo's quoting based on the most liquid product with some extra spread added on top of it... you get hit with a higher cost (due to spread) on both entry and exit.... I assume OP wants to trade it when Europe spot markets open... don't know his reason for shorting it at that time though...
TD has a night trading version of a handful of the ETFs. The names have to a electronic futures on the CME and the liquidity is from Virtu. I believe on TD at this time. I believe they may run ads here, but you can trade all night.
TD Ameritrade Introduces 24-Hour Access to the US Equity Markets TD Ameritrade is the first U.S. retail broker dealer to let investors trade select securities 24 hours a day, 5 days a week January 22, 2018 08:00 AM Eastern Standard Time OMAHA, Neb.--(BUSINESS WIRE)--TD Ameritrade1 is the first U.S. retail broker dealer to enable investors to access equity markets all night long – filling a gap between research and action, and enabling the Company’s growing Asia-based client segment to trade the U.S. markets during their daytime. With this initial launch, qualified TD Ameritrade clients can buy or sell select ETFs from 8 p.m. ET Sunday to 8 p.m. ET Friday. “This is a monumental first for our industry and retail investors” Tweet this “This is a monumental first for our industry and retail investors,” said Steve Quirk, executive vice president of Trading and Education for TD Ameritrade. “People have busy lives; they want access to their finances anywhere, anytime, and on any device. Online trading made the markets available to anyone, mobile trading made the markets available from anywhere, and now 24-hour trading will make the markets available anytime. We’re focused on innovation that creates more value for investors and ultimately makes their lives – and our industry – better.” The current market schedule leaves a gap between decision making and action. Nearly 70 percent of clients who use TD Ameritrade’s research and education resources do so outside of regular trading hours. Clients performing their research after market hours currently have to wait until the next day to transact based on their research findings. Asia-based investors interested in the U.S. markets must invest during U.S. daytime hours, not their own. “Market-moving news frequently breaks overnight,” said Quirk. “During events like Brexit or the U.S. election, futures were the only product available to investors looking to reposition their portfolios as the markets moved after hours. Investors today expect the same on-demand access and convenience they’re used to with other online services. Technology has enabled many other industries, like retail for example, to allow people do their consumer research and act on it at the same time. We want to bring investing into the same realm.” TD Ameritrade’s initial 24/5 trading offering includes 12 widely-held U.S.-listed ETFs including: FXI, SPY, EEM, GLD, SLV, DIA, UNG, TLT, IWM, QQQ, USO and SH. Trades must be placed as limit orders, allowing investors to buy or sell only at the price they specify. These securities were selected to provide access to a wide range of sectors. The Company intends to add other securities to the list over time. Extended Hours Overnight (EXTO) orders are up to 24-hour continuous orders that expire at 8 p.m. ET every day. For example, an EXTO order placed at 2 a.m. ET Monday morning would be active immediately and remain active until 8 p.m. ET Monday night. A trade placed at 9 p.m. ET Monday night would be active immediately and remain active until 8 p.m. ET Tuesday night. Eligible clients can access overnight trading via the thinkorswim platform and the TD Ameritrade Mobile Trader app by selecting EXTO in the order dropdown. Symbols available for EXTO are designated “EXTO Eligible” on the platform. To participate, clients should confirm their account is enabled for advanced features, which can be done through the client services tab on www.tdameritrade.com once logged in. A short step-by-step video is available here: https://youtu.be/sNQAqzlkNpw. Extended hours trading is subject to unique rules, restrictions and risks, including lower liquidity and higher volatility. Extended hours trading is not available on market holidays.
Awesome! I will open a TD Ameritrade account. Thanks so much! My other idea was the ishares Dow ETF on London exchange in USD, the code is 0JH7 but I don't know the liquidity.
The SPY has a reputation for being amazingly liquid. It is described as an endless river of non-stop trading (at least during normal trading hours). It's breathtaking to see the quotes get updated in a non-stop fashion. I'm not sure how the SPY fits in with the details of what you are looking to do. But if you are looking for liquidity, the SPY is amazing.