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.
Unique Names Per Day
Displayed Order Better Than NBBO %
Avg Spread Improvement %
5-days through 04/01/22
Quote Stability @ 20ms
Quote Stability @ 500ms
Average Trade Size
Average Order Size
Active Traded Names