Daily Displayed Highlights
5-days through 09/15/23
5.5 million | Orders priced better than the NBBO on arrival |
7517 | Unique displayed securities |
31.4% | 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 had its 3 largest market share days versus the total consolidated volume (TCV) last week, rising above 165bps for the first time overall and breaking 2% of FINRA Tier 1 market share. All in, the last four weeks have been the best market share weeks in the platform’s history.
We would like to thank our subscribers for continuing to trust our unique displayed liquidity and matching process with their orders, even as market wide intraday volumes have declined.
Last week, our free market-data feed, IQX, had quotes on at least one side of the market at or better than the NBBO 88% of the time, and orders of round lot or larger beat the NBBO on arrival over 3.2 million times per day. This helped contribute to the platform’s best hit rates of the year.
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 09/15/23
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
|---|---|---|---|
Total | 7517 | 14.2% | 31.4% |
ETF | 1265 | 8.5% | 28.9% |
LARGE CAP | 803 | 18.6% | 32.0% |
MID CAP | 1136 | 17.6% | 32.3% |
OTHER | 489 | 38.1% | 34.4% |
SMALL CAP | 3825 | 12.6% | 31.7% |
Top Symbols
ADR
| NIO | 2,938,360 |
| VALE | 2,658,582 |
| TEVA | 2,263,690 |
ETF
| SPY | 4,611,081 |
| XLF | 3,658,129 |
| SQQQ | 3,543,198 |
Large Cap
| AMZN | 4,561,597 |
| KVUE | 3,821,564 |
| F | 3,571,940 |
Smid Cap
| NKLA | 8,211,309 |
| CGC | 4,884,019 |
| AVTX | 3,528,724 |
Trading Information
5-days through 09/15/23
5-days through 09/15/23 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
|---|---|---|---|---|---|
Total | 93.2 | 85.2 | 80 | 310 | 7290 |
Smid Cap | 94.3 | 89.6 | 70 | 180 | 4552 |
ETF | 96 | 86.1 | 140 | 860 | 1257 |
Large Cap | 91.1 | 79.2 | 80 | 130 | 688 |
ADR | 95.9 | 90.4 | 110 | 250 | 375 |
Percent Names Traded by Share Group
SMID_CAP
LARGE_CAP
ETF
ADR
OTHER