Daily Displayed Highlights
4-days through 01/20/23
7.6 million | Orders priced better than the NBBO on arrival |
8291 | Unique displayed securities |
29.9% | Tighter spreads than the NBBO when ASPEN has the best quote |
1.3 bps | Lower adverse selection than maker/taker exchange avg at 20ms |
Weekly Highlights
Use of the IntelligentCross platform for more urgent trading is growing in both Midpoint and ASPEN Fee/Fee due to our unique liquidity and high post-trade performance.
Hit rates for IOC orders across the platform are up over 7% from Q4 2022 through January MTD and up over 15% against lit orders specifically. IOC interactions against resting lit orders are now over ⅓ of all IOC interactions, including dark Midpoint orders.
Last week ASPEN Fee/Fee displayed a quote at or better than the NBBO for 67% of the day with average resting times of over 5 seconds. And while ASPEN Fee/Fee was quoting better prices than the exchanges, $5.66 billion in market value traded at worse prices on the SIP daily.
If you’re not using our platform to fully unlock trading performance, get in touch. Our displayed quotes are available via our free market data feed, IQX. 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
4-days through 01/20/23
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
|---|---|---|---|
Total | 8291 | 29.9% | 29.9% |
ETF | 1955 | 33.8% | 29.0% |
LARGE CAP | 821 | 26.9% | 31.4% |
MID CAP | 1174 | 28.4% | 29.4% |
OTHER | 496 | 76.2% | 38.7% |
SMALL CAP | 3847 | 22.5% | 29.7% |
Top Symbols
ADR
| IQ | 3,196,676 |
| NOK | 1,875,121 |
| ABEV | 1,596,438 |
ETF
| SPY | 2,388,236 |
| FXI | 2,108,035 |
| XLF | 2,024,943 |
Large Cap
| BAC | 3,049,296 |
| GRAB | 2,543,301 |
| TSLA | 2,378,332 |
Smid Cap
| XELA | 6,324,818 |
| LUMN | 2,184,450 |
| MULN | 2,039,297 |
Trading Information
4-days through 01/20/23
4-days through 01/20/23 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
|---|---|---|---|---|---|
Total | 92.2 | 82.4 | 90 | 220 | 6769 |
Smid Cap | 93.3 | 87.3 | 90 | 210 | 4279 |
ETF | 94.6 | 82.1 | 160 | 310 | 1154 |
Large Cap | 90.2 | 76.1 | 90 | 130 | 699 |
ADR | 95 | 88.2 | 130 | 270 | 349 |
Percent Names Traded by Share Group
LARGE_CAP
SMID_CAP
ADR
ETF
OTHER