Daily Displayed Highlights
5-days through 02/10/23
10.6 million | Orders priced better than the NBBO on arrival |
8216 | Unique displayed securities |
29.8% | 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
Yesterday IntelligentCross set a new record for market share of the TCV, at just over 1.38%! This was driven by our highest daily hit-rate of the year.
Our market share keeps climbing because of the unique displayed liquidity on our free market data feed, IQX. Last week was the best week this year for both displayed orders of median trade size or larger and displayed orders of round-lot size or larger. The average daily number of displayed orders priced better than the NBBO on arrival was over 26mm for median trade size or larger and 7.4mm for round lot or larger.
ASPEN Fee/Fee had orders displayed at or inside the NBBO 67% of the day on average last week.
This means that last week IOCs on ASPEN Fee/Fee traded at prices better than the NBBO contra side on arrival over 17% of the time when getting an execution, for a savings of just under 3bps.
If you're not using our platform to optimize your trading performance, get in touch. Our displayed quotes are available through our free market data feed, IQX. IQX can be accessed directly or through Exegy, MayStreet, Redline, and ACTIV.
Displayed Quote Stats
5-days through 02/10/23
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
|---|---|---|---|
Total | 8216 | 33.6% | 29.8% |
ETF | 1885 | 38.4% | 29.1% |
LARGE CAP | 826 | 28.7% | 30.8% |
MID CAP | 1189 | 28.7% | 29.4% |
OTHER | 489 | 85.2% | 38.4% |
SMALL CAP | 3829 | 22.6% | 29.8% |
Top Symbols
ETF
| SPY | 3,622,819 |
| HYG | 3,107,053 |
| FXI | 2,169,353 |
ADR
| BP | 2,526,257 |
| BBD | 2,345,284 |
| LU | 1,827,242 |
Large Cap
| TSLA | 5,189,939 |
| F | 4,025,236 |
| UBER | 3,926,612 |
Smid Cap
| BBBY | 9,842,613 |
| LUMN | 3,843,601 |
| LYFT | 2,968,113 |
Trading Information
5-days through 02/10/23
5-days through 02/10/23 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
|---|---|---|---|---|---|
Total | 91.1 | 80.3 | 90 | 220 | 6887 |
Smid Cap | 92.9 | 86.5 | 90 | 190 | 4300 |
ETF | 93.2 | 77.7 | 150 | 330 | 1199 |
Large Cap | 88.4 | 72.7 | 80 | 120 | 717 |
ADR | 95.3 | 88.4 | 130 | 260 | 346 |
Percent Names Traded by Share Group
LARGE_CAP
SMID_CAP
ADR
ETF
OTHER