// SUPPORT
PLATFORM GUIDE
Everything you need to understand Sapinover's overnight ATS intelligence platform, from metrics methodology to data sources and daily brief schedule.
// GETTING STARTED
How Sapinover Works
Sapinover monitors overnight equity trading across three Alternative Trading Systems (ATS): BlueOcean (BOATS), Bruce Markets, and Moon ATS. Every trading day, our automated pipeline collects raw transaction data, enriches it with market reference prices, calculates proprietary metrics, and publishes the results before the US market opens.
The platform delivers 7 daily intelligence briefs spanning the full 24-hour cycle, from Asia Open (10:00 PM ET) through Post-Close (4:15 PM ET). Each brief is generated using real-time market data, news sentiment, economic calendar events, and overnight ATS flow analysis.
All subscriber data pages pull from encrypted datasets hosted on GitHub Pages. Data is refreshed daily by 9:30 AM ET via an automated pipeline that runs Monday through Friday. Weekend data is not available (ATS venues are closed). Monday pages show Friday's session data.
// DAILY PIPELINE
// PLATFORM PAGES
What Each Tier Unlocks
Higher tiers include everything from the tiers below. Institutional subscribers get full platform access.
Free
$0/moCrypto, FX, commodities, futures, treasury yields with expand/collapse groups.
Geopolitical risk score (1-10), macro dashboard, and stress indicators.
Two free briefs covering the overnight session from Asia through European open.
Educational content on ATS mechanics, dark pool structure, and venue analysis.
High-level overview of ATS venues and market structure.
Resources for understanding round-the-clock market activity.
Retail
$9.99/mo3-venue overnight ATS flow summary with notional, volume, top movers, and ETF breakdown.
Per-venue filing analysis with BlueOcean, Bruce Markets, and Moon ATS side-by-side.
SEC 13F institutional holdings for 10 top hedge funds, cross-fund aggregation, QoQ comparison.
Full coverage from Asia Open through Post-Close, including pre-market with live ATS data.
Institutional
$49/moDBSCAN clustering, correlation matrix, sector heatmaps, 20-day overview panel.
12-tab dashboard: Summary, Daily, Structure, Quadrant, Clustering, Heatmaps, Explorer, Risk, Regimes, Screener, Asia Sleeps, Methodology.
Deep venue-level analytics, compare venues side-by-side, volume intelligence, affiliate graph.
NMS filing data, volume trends, and market share analysis across ATS venues.
// SAPINOVER RESEARCH
OVERNIGHT ATS METRICS GUIDE
How we measure overnight execution quality — formulas, visual diagrams, and worked examples using real data.
Loading metrics guide...
// DATA SOURCES
Where the Data Comes From
BlueOcean ATS (BOATS)
Primary ATSDaily transaction reports delivered via email. Contains Symbol, Volume, Notional, Executions, VWAP for each security traded in the overnight session.
Available by 8:30 AM ET
Bruce Markets
Primary ATSDaily activity files retrieved via SFTP. Contains trade-level detail including High, Low, Average Spread, and execution counts.
Available by 8:30 AM ET
Moon ATS
Primary ATSMost-active securities data scraped from OTC Markets public reporting. Provides volume and notional for top overnight movers.
Available by 8:00 AM ET
yfinance
Price EnrichmentPrior Close, Next Open, Next Close, and Market Cap for each symbol. Batched at 500 symbols per request to manage rate limits.
Real-time during pipeline run
Alpaca Markets
Live ATS SnapshotsOvernight feed providing 15-minute delayed BOATS data for 65 key symbols. Used in the Pre-Market brief for real-time ATS flow.
Live during pre-market
Finnhub
News and Economic CalendarCompany news (primary), general market news, quote fallback, and economic calendar events for brief generation.
Real-time, 60 calls/min
CoinGecko
Crypto PricesTop 50 cryptocurrency prices with 24-hour percentage changes. Stablecoins filtered from display.
Real-time, no API key required
Yahoo Finance v8 API
Equity and Index QuotesPrimary quote source for indices, FX, commodities, futures, treasury yields, and VIX. Direct chart API integration.
Real-time
SEC EDGAR
13F Institutional HoldingsQuarterly 13F-HR filings for 10 top hedge funds. Two-quarter fetch for quarter-over-quarter comparison. Auto-detects value unit discrepancies.
Updated quarterly
// INTELLIGENCE BRIEF SCHEDULE
7 Daily Briefs
Each brief is AI-generated using Claude with real-time market data, news sentiment, and overnight ATS flow. Asia Open and EU Open are free. All 7 briefs are included with Retail and above.
Asia Open
10:00 PM ET
Asian session open drivers, overnight futures positioning, and cross-border flow signals.
Asia Close
3:00 AM ET
Asian session wrap, Nikkei/Hang Seng settlement impact, and handoff to European desks.
EU Open
4:00 AM ET
European session drivers, STOXX/DAX positioning, FX moves, and macro catalyst summary.
Pre-Market
8:30 AM ET
Live 3-venue ATS overnight flow, economic calendar, treasury yields, geopolitical risk score.
US Open
10:00 AM ET
Post-open ATS reaction, opening auction dynamics, sector rotation signals.
EU Close
11:30 AM ET
European close drivers, cross-listing rebalance, afternoon positioning shift.
Post-Close
4:15 PM ET
End-of-day recap, overnight outlook, next-session setup, and key levels to watch.
FREE Asia Open and EU Open briefs are available to all users. Subscribe for access to all 7 daily briefs including the Pre-Market brief with live ATS flow data.
// FAQ
Frequently Asked Questions
When is data updated?
The automated pipeline runs Monday through Friday at 8:00 AM ET. Moon ATS data is pulled first (available by 8:00 AM), then BlueOcean and Bruce Markets files are polled every 2 minutes until available (typically by 8:30 AM). Data is processed, encrypted, and deployed to the dashboard by 9:30 AM ET.
Why does Monday show Friday's data?
ATS venues are closed on weekends. The pipeline processes T-1 (prior trading day) data. On Monday morning, the most recent trading session is Friday, so that's what appears on subscriber pages.
What does the $50K notional filter mean?
All displayed data is filtered to transactions with at least $50,000 in notional value and positive volume. This institutional filter removes noise from small/test orders and focuses on meaningful flow.
How are briefs generated?
Each brief uses Claude (Anthropic's AI) with real-time data injected as context: market prices from Yahoo Finance, news from Finnhub, economic calendar events, treasury yields, and live ATS flow from Alpaca (for the Pre-Market brief). Briefs are generated fresh at each scheduled time, not cached templates.
Can I cancel my subscription?
Yes. Cancel anytime from your Stripe billing portal or email echo@sapinover.com. Your access continues through the end of the current billing period. No partial-month refunds, but we offer a 7-day money-back guarantee for new subscribers.
What is the founding member rate?
The first 200 retail subscribers lock in $9.99/mo permanently (regular price: $19.99). The first 50 institutional subscribers lock in $49/mo permanently (regular price: $99). These rates never increase for founding members, even if prices go up later.
Is this investment advice?
No. Sapinover provides independent market microstructure research. All content is for informational and educational purposes only. See our full disclaimer for details.
What is directional consistency?
Directional consistency measures whether the overnight VWAP (the price at which ATS participants actually traded) falls between the prior close and the next open. A rate of ~68.8% means roughly 7 out of 10 times, the overnight session's pricing anticipated the direction of the opening gap.
What is the geopolitical risk score?
A 1-10 score generated by Claude AI analyzing current Finnhub headlines combined with market stress indicators (VIX, Gold, Crude, DXY, 10Y yields). Updated every 30 minutes. It's a sentiment gauge, not a prediction. Displayed on the Global Monitor page.
// CONTACT
Need Help?
For account, billing, or platform questions, reach us at echo@sapinover.com. We typically respond within 24 hours on business days.
For strategic partnership, sponsorship, or data licensing inquiries, visit our contact page or sponsorship page.
Sapinover LLC provides independent market microstructure research. This platform is not a registered investment advisor or broker-dealer. All data is sourced from publicly available ATS filings and market data feeds. Sapinover LLC is retained by BlueOcean ATS on a flat-fee basis for research services; compensation is not tied to transaction volume or trading activity. See full disclaimer for complete disclosures.