Trading Hours

dShares™ are backed 1:1 by real stock and are traded in real-time on the U.S. stock markets including the New York Stock Exchange (NYSE), the NASDAQ and other exchanges. In addition to regular trading sessions on these exchanges, Dinari also operates on the extended, overnight and weekend/open sessions.

While Dinari generally abstracts these trading sessions away with our APIs and smart contracts, it's important to understand the differences with how orders are placed and the varying amount of available liquidity.

Sessions Overview

Regular

9:30 a.m. - 4:00 p.m. (ET)

Weekdays. All order types accepted.

Extended

Pre-market 4:00 a.m. - 9:30 a.m. (ET)

After-hours 4:00 p.m. - 8:00 p.m. (ET)

Weekdays. Limit orders only.

Overnight

*8:00 p.m. (T-1) - 4:00 a.m. (ET)

Weekdays-only starting at 8:00 p.m. on Sunday

Open (24/7)

8:00 p.m. (Friday) - 8:00 p.m. (Sunday)

Open trading whenever other sessions are closed, blockchain only
Available now for certain tickers

Key takeaway: During the Regular session, all order types work normally. During Extended, Overnight, and Open sessions, only limit orders are accepted.
How to check: GET /api/v2/market_data/market_hours/
This returns is_market_open, next_session_open_dt, and next_session_close_dt.

Holidays

Market Holidays

Dinari trading hours are affected by U.S. stock market holidays. On these days, the Regular, Extended and Weekend trading sessions are closed. For the most up-to-date information, please utilize the Get Market Hours API endpoint.

Get Market Hours API

You may also refer to the following resources:

🗓 NYSE Calendar | 🗓 NASDAQ Calendar

Bank Holidays

In addition to the stock market holidays, Dinari is also affected by U.S. bank holidays which usually coincide with Market Holidays (but not always). While Dinari attempts to mitigate the effects of bank holidays, large transactions might be settled on a T+2 basis on these days.

Market Orders Outside Regular Hours

Market orders placed outside the Regular session are automatically converted into "marketable limit orders":

Buy orders are priced at the latest ASK
Sell orders are priced at the latest BID

Because the result is a limit order, it may fill fully, partially, or not at all. For market buys, any unfilled remainder is refunded.
Example: A market order placed at 10 PM on a Friday becomes a limit order. If the price moves away from your implied limit price, the order may sit unfilled and eventually be cancelled.

Sessions

Regular Trading Session

The regular trading session is the primary trading period for U.S. stock markets and runs most weekdays. During this time, all order types are accepted, including market and limit orders. Generally, expect the best prices and liquidity during this session.

Extended Hours Trading Session

The extended hours trading session includes both pre-market and after-hours trading. These trading sessions are only active on days there are regular trading sessions. This session allows traders to react to news and events outside of regular trading hours, but liquidity may be lower, and price volatility can be higher.

Overnight Trading Session

The overnight trading session runs from 8:00 p.m. (ET, T-1) to 4:00 a.m. (ET) on weekdays, starting at 8:00 p.m. on Sunday. The overnight trading session opens only if the market is open the following day. For example, if Monday is a holiday, the overnight session will not open on Sunday evening.

This session allows traders to place orders outside of regular trading hours, but similar to the extended hours, liquidity may be lower and price volatility can be higher.

Trades in the overnight session will be booked in the following trading session.

Open Trading (24/7) Session

The Open trading session will run from 8:00 p.m. (ET) on Friday to 8:00 p.m. (ET) on Sunday and when other trading sessions are closed, allowing traders to place orders 24/7. The Open trading session operates on the blockchain only.

This trading session covers a limited number of tickers and may contain lower liquidity levels than other trading sessions.

Common Scenarios

Scenario 1: Market order during Regular hours

Aspect	What Happens
Execution	Executes quickly at the prvailing market place
Timing	dShares appear in wallet within 30 minutes
Status	SUBMITTED → FILLED

Scenario 2: Market order during Extended/Overnight/Weekend hours

Aspect	What Happens
Execution	Converted to a marketable limit order
Possible outcomes	Fills fully, partially, or not at all; may remain pending until next Regular session
Status	May show SUBMITTED to extended periods; may eventually be CANCELLED

Scenario 3: Order shows SUBMITTED for a long time

Aspect	What Happens
What it means	Order is on the order book waiting to be filled
Is this normal?	Yes, especially during off-hours sessions
When to act	If still SUBMITTED after the Regular session opens, contact support

Scenario 4: Order was cancelled

Common reasons:

Market order placed off-hours and implied limit price wasn't reached
Limit order didn't fill and expired (TIF = DAY)
You cancelled it manually
The asset was non-fractionable (limit orders only)

How to check: Use List Order Requests endpoint to see the cancel_message for the specific reason.

Scenario 5: Order shows PARTIALLY_FILLED

Aspect	What Happens
What it means	Only part of your order executed
Is this normal?	Yes. Orders can have multiple fulfillments depending on market conditions
What happens next	Remaining portion stays on the order book
Can you cancel?	Yes. PARTIALLY_FILLED orders can be cancelled

Scenario 6: Cancellation attempt doesn't work

Orders that cannot be cancelled:

PENDING_FILL
PENDING_ESCROW
FILLED
REJECTED
CANCELLED

Important: Order cancellation is not guaranteed and is not immediate. The order may still execute if the cancellation request doesn't reach the order book in time. Always confirm using Get Order by ID.