How does Blue Ocean ATS handle trades around the ex-dividend date?
Purchases made during the Blue Ocean Session (8:00 PM to 4:00 AM ET) follow the same record date rules as pre-market and regular sessions.
When a stock is purchased in the Blue Ocean Session, the record date is treated the same as if it were bought in the pre-market or regular session. The session date, carried in FIX Tag 75, reflects the calendar date when the Blue Ocean Session closes after midnight.
For example, a session that opens at 8:00 PM ET on February 10, 2025 and closes at 4:00 AM ET on February 11, 2025 carries a session date of 20250211. Settlement takes place on 20250212.
NOTE: The TRF trade date is based strictly on the actual execution timestamp in Eastern Time, while Tag 75 conveys the session date instead.
