Daily Displayed Highlights
5-days through 08/25/23
5.2 million | Orders priced better than the NBBO on arrival |
7500 | Unique displayed securities |
30.6% | Tighter spreads than the NBBO when ASPEN has the best quote |
1.2 bps | Lower adverse selection than maker/taker exchange avg at 20ms |
Weekly Highlights
IntelligentCross set a new platform record for weekly market share of the total consolidated volume (TCV) at just over 141bps for the week ending 8/25/31, a 30% increase from where we were at the end of 2022.
Our market share growth has been particularly strong in larger-cap names, as our Tier 1 market share hit 180bps one day last week. Our growth in this universe comes despite recent market-wide declining ADV and trade sizes, coupled with rising odd lot percentages of total trades, making liquidity capture more difficult.
Our growth is driven by our unique displayed liquidity on our free market data feed, IQX. Last week, an average over 4.4 million roundlot size or larger orders per day were displayed on IQX and priced better than the NBBO on arrival, saving subscribers almost 1 ⁄ 3 of the spread.
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 you can access directly, or through Exegy, MayStreet, Redline, and ACTIV.
Displayed Quote Stats
5-days through 08/25/23
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
|---|---|---|---|
Total | 7500 | 13.9% | 31.0% |
ETF | 1279 | 11.5% | 31.2% |
LARGE CAP | 807 | 16.3% | 30.8% |
MID CAP | 1137 | 15.4% | 31.1% |
OTHER | 468 | 39.2% | 33.0% |
SMALL CAP | 3810 | 11.8% | 30.7% |
Top Symbols
ADR
| NIO | 1,831,341 |
| SE | 1,593,164 |
| LU | 1,509,185 |
ETF
| HYG | 4,024,088 |
| SPY | 3,707,122 |
| SQQQ | 3,039,043 |
Large Cap
| AMD | 3,775,466 |
| JNJ | 3,693,634 |
| NVDA | 2,959,860 |
Smid Cap
| AMC | 7,993,132 |
| APE | 5,770,502 |
| FFIE | 3,801,028 |
Trading Information
5-days through 08/25/23
5-days through 08/25/23 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
|---|---|---|---|---|---|
Total | 92.6 | 83.6 | 80 | 300 | 7207 |
Smid Cap | 94 | 88.9 | 70 | 180 | 4527 |
ETF | 95.1 | 82.6 | 150 | 780 | 1237 |
Large Cap | 89.8 | 76.3 | 80 | 120 | 690 |
ADR | 95.5 | 89.2 | 100 | 240 | 375 |
Percent Names Traded by Share Group
SMID_CAP
LARGE_CAP
ETF
ADR
OTHER