Partnership strengthens institutional-grade pricing infrastructure for overnight markets and next-generation perpetual products.
Kaiko, the global independent leader in digital asset market data, analytics, indices, and pricing, today announced a collaboration with Bruce Markets, which operates the after-hours Bruce ATS, to incorporate its trading data into Kaiko’s 24/7 equity Reference Rates.
The partnership comes as participation in overnight trading continues to grow, driven by global investor demand and an increasingly around-the-clock news cycle.
Kaiko’s Reference Rates combine equity data from multiple institutional sources into one rate, and with this partnership, Kaiko will ingest market data from Bruce ATS, enhancing Kaiko’s ability to deliver accurate, representative pricing by incorporating data from one of the fastest-growing venues in the overnight market.
“No single overnight ATS can give you a comprehensive picture of the market, and pricing infrastructure needs to evolve accordingly,” said Ambre Soubiran, CEO of Kaiko. “Incorporating data from Bruce Markets alongside our existing sources strengthens the accuracy and resilience of our equity Reference Rates, ensuring they reflect true market conditions at all hours.”
“The overnight session is here to stay, and we’re seeing both overall participation and our share of that activity continue to grow,” said Jason Wallach, CEO of Bruce Markets. “We’re proud to partner with Kaiko to ensure that high-quality overnight market data is reflected in the pricing infrastructure that traders and institutions rely on.”
As platforms launch equity perpetual products, they need a dependable underlying reference price that’s accurate and always available. Kaiko’s real-time 24/7 equity Reference Rates are designed to meet that demand, delivering consolidated, institutional-grade pricing that enables seamless trading across both on-chain and off-chain markets.
About Kaiko
Kaiko provides regulated data services for onchain finance. Founded in 2014, the company delivers institutional-grade digital asset market data, analytics, indices, and data infrastructure for tokenized and traditional markets. Its clients include banks, asset managers, exchanges, and leading financial institutions worldwide. Kaiko’s data and infrastructure support trading, valuation, risk management, tokenized assets, and onchain applications, connecting traditional and blockchain-based markets.
About Bruce Markets
Bruce Markets operates Bruce ATS™, a U.S. equities alternative trading system enabling overnight trading from 8:00 PM to 4:00 AM ET. Underpinned by exchange-grade technology and market rules, led by industry veterans and backed by leading firms from across the trading ecosystem, Bruce provides a high-performance, resilient venue that bridges the U.S. after-hours and pre-market sessions. By providing a credible source of after-hours liquidity for brokers and investors, and leading the evolution of always-available markets, Bruce brings needed competition to the ecosystem and is redefining after-hours trading worldwide. To learn more, visit www.brucemarkets.com.
