ADVISORYIn the programBit 15

Market-hours fee

A fee that follows the US stock market's sessions.

Add to the builder All Hook Blocks

Where it runs

Advisory

The pool's single add-on slot: one per pool.

Status on reel

In the program

In the reel program: bit 15 of PoolParams.blocks, frozen at PoolInit (PROGRAM.md §5).

Set by

You, at launch

Frozen in PoolParams at PoolInit; nobody can change it after.

What it does

An LP surcharge for each session of the US market in New York time: regular hours, pre-market, after hours, overnight and closed days, with optional ramps into the open and the close. Weekdays the holiday calendar doesn't cover can be charged as closed. It suits pools that trade or quote tokenized stocks.

How it works on reel

New York time with US daylight-saving rules. Monday to Friday: pre-market 04:00–09:30, regular 09:30–16:00 (13:00 on early closes), after hours 16:00–20:00, overnight 20:00–04:00; closed from Friday 20:00 to Sunday 20:00 and on Calendar holidays. The open ramp runs pre-market to regular over hours_ramp_secs[0], the close ramp regular to after hours over [1]. Days past covered_until_day count as closed when hours_flags bit 0 is set.

Settings · 8

Setting	Min	Default	Max	What it does
Regular hours `hours_pips[0]`	0%	0%	5%	LP surcharge during regular hours, New York time. 100% to LPs.
Pre-market `hours_pips[1]`	0%	0.2%	5%	LP surcharge during pre-market, New York time. 100% to LPs.
After hours `hours_pips[2]`	0%	0.2%	5%	LP surcharge during after hours, New York time. 100% to LPs.
Overnight `hours_pips[3]`	0%	0.4%	5%	LP surcharge during overnight, New York time. 100% to LPs.
Market closed `hours_pips[4]`	0%	0.6%	5%	LP surcharge during market closed, New York time. 100% to LPs.
Ramp into the open `hours_ramp_secs[0]`	0 s	30 min	12,600 s (3h 30m)	From the pre-market rate to the regular rate after 09:30.The two ramps add up to at most 12,600 s.
Ramp into the close `hours_ramp_secs[1]`	0 s	15 min	12,600 s (3h 30m)	From the regular rate to the after-hours rate before 16:00.The two ramps add up to at most 12,600 s.
Days off the calendar `hours_flags`	None	Charge uncovered weekdays as closed	Charge uncovered weekdays as closed	Weekdays past the Calendar's covered range are charged the closed rate.

Fees and who's paid

Paid to

LPs, 100%.

Protocol share

reel takes no share of it.

Requires and can't be combined with

Requires

No other block.

The Calendar account (NYSE closures, kept by the admin)

Can't be combined with

Worked example

A tokenized-stock/USDC pool at 0.3% base and 0.4% overnight: a 1,000 USDC buy at 02:00 New York on a Tuesday pays 3 USDC base and 4 USDC surcharge, all to LPs.