Daily Displayed Highlights
5-days through 12/09/22
8.7 million | Orders priced better than the NBBO on arrival |
7813 | Unique displayed securities |
30.1% | Tighter spreads than the NBBO when ASPEN has the best quote |
1.6 bps | Lower adverse selection than maker/taker exchange avg at 20ms |
Weekly Highlights
As we head into the last scheduled FOMC announcement for the year, keep an eye on ETF trading: in 2022 ETF market share has been statistically higher on FOMC days vs other trading days.
ETF trading continues to grow on IntelligentCross. Last week was our best week of the year for breadth of ETF names ordered across the platform, and the second-best week for ETF volume and executed market share.
Driving our ETF performance is the unique displayed liquidity available on our free market data feed, IQX. Last week we saw over 10 million displayed orders per day in ETFs that were median trade size or larger, across a universe of over 2700 names and with match quantities almost 1.5x median trade size on average.
If you’re not using our platform to fully unlock trading performance, get in touch. Contact the desk for more information on our weekly data or to connect to IQX. It’s available directly or through Exegy, MayStreet, Redline, and ACTIV.
Displayed Quote Stats
5-days through 12/09/22
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
|---|---|---|---|
Total | 7813 | 34.7% | 30.1% |
ETF | 1642 | 41.0% | 28.9% |
LARGE CAP | 785 | 29.4% | 31.0% |
MID CAP | 1170 | 30.6% | 31.0% |
OTHER | 466 | 54.3% | 37.0% |
SMALL CAP | 3752 | 25.3% | 31.9% |
Top Symbols
ADR
| VALE | 2,906,065 |
| LU | 2,527,098 |
| NIO | 2,157,933 |
ETF
| FXI | 2,270,769 |
| XLF | 1,876,267 |
| SPY | 1,682,956 |
Large Cap
| BAC | 4,632,845 |
| AMD | 2,686,405 |
| CMCSA | 2,507,622 |
Smid Cap
| CEI | 3,089,049 |
| MULN | 2,500,910 |
| CVNA | 2,146,447 |
Trading Information
5-days through 12/09/22
5-days through 12/09/22 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
|---|---|---|---|---|---|
Total | 93 | 82.9 | 90 | 220 | 6640 |
Smid Cap | 94.2 | 88.4 | 80 | 200 | 4351 |
ETF | 94.5 | 80.5 | 170 | 320 | 992 |
Large Cap | 90.7 | 75.1 | 80 | 120 | 670 |
ADR | 95.5 | 87.3 | 130 | 300 | 344 |
Percent Names Traded by Share Group
SMID_CAP
LARGE_CAP
ADR
OTHER
ETF