Weekly Highlights

• As we enter Q4 2023, we’d like to take a moment to thank our subscribers for making Q3 our best quarter ever.

• Even though Q3 daily market volumes were at their lowest of the year, IntelligentCross’ average daily volumes were at their highest ever. We were consistently above 140bps of the total consolidated volume for the quarter, with 9 of our 10 best days ever in September pushing us above 150bps. This allowed us to enter the top 2 ATS for both Tier 1 and Tier 2 stocks, according to FINRA’s weekly report on trading volume.

• Subscribers continue to benefit from our unique matching process. Not only do we consistently outperform exchanges with higher post-trade quote stability and lower markouts, but our free market data feed, IQX, also provides valuable spread savings opportunities. Over the last quarter, IQX averaged 3.8 million daily orders of round-lot size or larger, priced better than the NBBO upon arrival and offering over 30% spread savings. So, perhaps it’s no surprise that despite the decline in overall volumes, last week was our best week ever for daily displayed match quantities.

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