Weekly Highlights

• Amid the volatility of last week, IntelligentCross had its best week ever for daily matched shares in both Midpoint and ASPEN Fee/Fee. Driving volumes were record weeks for matches of demi-block or larger (starting at 2000 shares) and our second best week ever for daily count of orders of roundlot or larger displayed on our free market data feed, IQX.

• The unique liquidity available on IQX continues to provide spread saving value to our subscribers. Last week, we saw roundlot or larger orders priced better than the NBBO on arrival over 7.7mm times per day on average.

• To measure the quality of our displayed liquidity, we partnered with the Data Science team at Pico, a leading provider of technology services for the financial markets, today released a report that analyzes the venue’s displayed trading performance against several objective metrics. We are excited to share the full results here: Pico Analyzes IntelligentCross ASPEN Price Improvement.

• Among the key findings of the report are the following: For ASPEN Fee/Fee orders in S&P 500 stocks, analysis shows that displayed bids and offers were available on average over 96% of the time. Displayed quotations were available strictly inside the NBB/NBO more than 12% of the time, with an average improvement of over 2.5 basis points. For orders in Russell 3000 stocks and top 100 ETFs, displayed bids and offers were available over 95% of the time. And displayed Bids and offers strictly inside the NBB/NBO were available over 9% of the time, with an average improvement of over 10 basis points.

• If you're not already using our platform to optimize your trading performance, we encourage you to get in touch. Our displayed quotes are available through our market data feed, IQX, which can be accessed directly or through Exegy, MayStreet, Redline, and ACTIV.