Daily Displayed Highlights
4-days through 09/08/23
5.7 million | Orders priced better than the NBBO on arrival |
7574 | Unique displayed securities |
31.0% | 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
Despite last week being one of the lower volume weeks of the year market wide, IntelligentCross set a new record for average daily market share at just over 157bps of the total consolidated volume (TCV). We also set a new single day record for market share of FINRA Tier 1 names at 197bps.
So, while the overall market had its 35th weakest daily volumes out of 36 weeks this year, IntelligentCross still saw matched volumes in the top 10 of its history on the back of our highest hit rates, longest average resting order patience, and greatest utilization of IOC orders of the year.
Our growth is driven by our unique displayed liquidity available through our free market-data feed, IQX, where we saw 34 million daily displayed orders of median trade size or better last week, and over 3 million displayed orders of round lot or larger, priced better than the NBBO on arrival.
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
4-days through 09/08/23
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
|---|---|---|---|
Total | 7556 | 15.2% | 31.0% |
ETF | 1306 | 10.9% | 29.3% |
LARGE CAP | 802 | 19.3% | 31.5% |
MID CAP | 1135 | 17.7% | 31.8% |
OTHER | 498 | 29.2% | 32.4% |
SMALL CAP | 3817 | 12.8% | 31.1% |
Top Symbols
ADR
| PBR | 1,626,922 |
| VALE | 1,263,899 |
| BBD | 1,195,966 |
ETF
| HYG | 3,185,980 |
| SPY | 2,515,939 |
| EEM | 2,469,732 |
Large Cap
| AAPL | 3,070,091 |
| NU | 2,418,950 |
| AMD | 2,413,760 |
Smid Cap
| NKLA | 2,828,795 |
| AMC | 2,351,744 |
| TLRY | 2,332,155 |
Trading Information
4-days through 09/08/23
4-days through 09/08/23 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
|---|---|---|---|---|---|
Total | 92.9 | 84.8 | 80 | 300 | 7136 |
Smid Cap | 94 | 89 | 70 | 180 | 4490 |
ETF | 95.8 | 85.9 | 140 | 820 | 1218 |
Large Cap | 90.8 | 79.1 | 80 | 130 | 689 |
ADR | 95.6 | 90 | 100 | 250 | 367 |
Percent Names Traded by Share Group
SMID_CAP
LARGE_CAP
ETF
ADR
OTHER