Weekly Highlights

  • We would like to thank our subscribers for making Q1-2022 our best quarter ever for daily matched shares across ASPEN^3 and Midpoint.

  • We now trade an average of $4.6 billion daily, single-sided, and are consistently ranked between fifth and sixth in FINRA's ATS rankings for NMS Tier 1 stocks and have placed as high as fourth for Tier 2 stocks (https://otctransparency.finra.org/otctransparency/AtsData).

  • Round-lot or larger orders displayed on our market data feed, IQX, were priced better than the NBBO on arrival more than 12 million times daily and 64% had resting durations greater than or equal to the median quote duration of the stock throughout the quarter.

  • Well priced, longer resting orders have meant that IntelligentCross quotes were traded-through over 1.1 million times a day during the quarter (i.e., a trade is reported on the SIP at the time IntelligentCross has a better displayed quote).

  • We estimate not using IntelligentCross is costing traders over $49 million daily by trading at prices worse than those on our system.

  • Please contact the desk for more information on getting IQX - it's available directly or through Exegy, MayStreet, Redline, and ACTIV.

Displayed Quote Stats

5-days through 04/01/22

Unique Names Per Day

Displayed Order Better Than NBBO %

Avg Spread Improvement %

Total

6870

29%

45%

ETF

1189

29%

53%

LARGE CAP

884

27%

40%

MID CAP

1262

29%

36%

OTHER

107

30%

36%

SMALL CAP

3429

32%

27%

Top Symbols

shares matched on the week

ADR

ERIC1,319,111
IQ1,295,062
ABEV1,243,186

ETF

XLF1,745,509
EEM1,584,728
IEMG918,186

Large Cap

AMC2,631,754
AMD2,443,239
BAC2,060,349

Smid Cap

SNDL3,503,862
HYMC3,173,691
MULN2,468,384

Trading Information

5-days through 04/01/22

5-days through 04/01/22

Quote Stability @ 20ms

Quote Stability @ 500ms

Average Trade Size

Average Order Size

Active Traded Names

Total

92.2

80.9

90

230

6724

Smid Cap

94.1

87.6

90

250

4603

Large Cap

88.9

70.6

80

130

810

ETF

95.3

84.5

180

310

743

ADR

95.1

87.9

140

280

367

Percent Names Traded by Share Group

SMID_CAP 45.4%LARGE_CAP 39.1%ADR 7.4%OTHER 4.2%ETF 3.9%

SMID_CAP

LARGE_CAP

ADR

OTHER

ETF