Weekly Highlights

• Last week, IntelligentCross rose above 1% market share of daily continuous, ex-auction volume for the third time in our history. The final week of July was also our single best week ever for market share versus the TCV – averaging over 85 bps daily.

• July was our best month overall for market share versus the TCV. And since breaking above 80 bps of TCV for the first time at the end of April, we have stayed above 80 bps for 12 of the subsequent 14 weeks.

• This growth is happening even as market volumes drop. With overall market volumes down more than 15% since the end of April, and with 11 exchanges losing more than 20% in the same period, our market share growth underscores that our unique displayed liquidity continues to benefit subscribers.

• Last week on our free market data feed, IQX, we averaged more than 12mm orders per day priced better than the NBBO on arrival, while fills from displayed orders had post-trade quote stability 1.5x better than exchanges, out to one second.

• Please contact the desk for more information on our weekly data or to connect for free to IQX – it's available directly or through Exegy, MayStreet, Redline, and ACTIV. And watch for a full July recap later this week, in our monthly newsletter.