Daily Displayed Highlights
5-days through 10/27/23
8.2 million | Orders priced better than the NBBO on arrival |
7566 | Unique displayed securities |
29.8% | 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 market share record in the last full week of October, achieving 182bps of the total consolidated volume (TCV) for the first time on Friday. This came in a challenging week of rising spreads, decreased post-trade stability, and a decline in larger trade contributions to the overall market volume. These conditions underscored the importance of spread savings and performance.
The growth of IntelligentCross' market share is attributed to our subscribers' capability to execute quality trades even in such demanding contexts. In fact, the past week marked our highest ever daily match quantity for spread-saving Midpoint liquidity and demi-block and larger trades (starting at 2000 shares).
More importantly, we continue to see growing interest from our subscribers to trade transparently using our free market data feed, IQX. Last week was a record week for average daily displayed order qty at or larger than both median trade and round lot sizes.
If you haven't yet leveraged our platform to boost your trading outcomes, we urge you to connect with us. Our displayed ASPEN quotes are available through our market data feed, IQX, which can be accessed directly or via providers such as Exegy, MayStreet, Redline, and ACTIV.
Displayed Quote Stats
5-days through 10/27/23
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
|---|---|---|---|
Total | 7566 | 14.6% | 29.8% |
ETF | 1340 | 11.5% | 29.5% |
LARGE CAP | 753 | 18.8% | 29.9% |
MID CAP | 1100 | 16.1% | 30.3% |
OTHER | 403 | 74.1% | 35.8% |
SMALL CAP | 3972 | 10.1% | 29.9% |
Top Symbols
ADR
| NOK | 2,687,597 |
| VALE | 2,509,710 |
| LU | 2,066,368 |
ETF
| SQQQ | 4,934,329 |
| HYG | 4,565,458 |
| XLF | 4,398,779 |
Large Cap
| F | 7,744,530 |
| BAC | 6,449,064 |
| INTC | 4,867,329 |
Smid Cap
| AGNC | 4,518,496 |
| TELL | 3,880,573 |
| AAL | 3,012,269 |
Trading Information
5-days through 10/27/23
5-days through 10/27/23 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
|---|---|---|---|---|---|
Total | 91.4 | 80.5 | 90 | 330 | 7339 |
Smid Cap | 93.1 | 86.9 | 80 | 180 | 4581 |
ETF | 94 | 78.7 | 150 | 890 | 1380 |
Large Cap | 88.5 | 72.5 | 90 | 120 | 644 |
ADR | 95.2 | 88.3 | 120 | 250 | 386 |
Percent Names Traded by Share Group
LARGE_CAP
SMID_CAP
ETF
ADR
OTHER