Issue on Overnight Trading Availability

Update timeline

1. investigating Jul 31, 2026, 07:33 AM UTC

   We have temporarily paused overnight trading. Please note that we cannot accept additional overnight orders at this time.

2. identified Jul 31, 2026, 08:03 AM UTC

   We have identified that the issue was caused by the notional trading limit for today's overnight trading session being exceeded. As a result, the trading venue began rejecting new order requests.

3. monitoring Jul 31, 2026, 08:11 AM UTC

   The issue was isolated to the overnight trading session, during which the venue rejected new orders after the notional trading limit was exceeded. With the transition to the pre-market session, the venue is now accepting new orders, and normal order processing has resumed.

4. resolved Jul 31, 2026, 10:03 AM UTC

   This incident has been resolved.

5. postmortem Jul 31, 2026, 04:32 PM UTC

   On July 31, 2026, between approximately 3:15 AM and 4:00 AM ET, customers experienced overnight order rejections after aggregate overnight activity exceeded a capacity control at an execution venue. Alpaca temporarily paused overnight trading to prevent additional rejections. Normal order processing resumed with the transition to pre-market. We worked with the venue to increase minimum overnight capacity and improve its intraday adjustment process. Alpaca is also adding pre-breach monitoring and exploring additional overnight execution venue options. We appreciate your patience while service was restored.