4.2 million | Orders priced better than the NBBO on arrival |
7691 | Unique displayed securities |
31.2% | Tighter spreads than the NBBO when ASPEN has the best quote |
1.1 bps | Lower adverse selection than maker/taker exchange avg at 20ms |
As the market rallied last week, IntelligentCross had its best three days ever for matching shares, rising above 285 million shares single counted at our peak. Last week we also rose above 2% market share of the TCV measured by notional traded for the first time.
Growth on IntelligentCross is driven by our unique order flow, especially ASPEN orders displayed on our free market data feed IQX, and we’ve also seen growth in larger size matching. Last week was our best week ever for matching shares of demi-block and larger (starting at 2000 shares), and we had our two best days ever for shares matched against displayed orders. Subscribers benefitted from high IOC order type utilization to interact with the over 2.6mm displayed orders of roundlot size and larger that arrive priced better than the NBBO daily.
With growth in shares traded and market share, Q4 is shaping up to be our best quarter ever. To mark the holiday season, founder and CEO, Roman Ginis, sends his gratitude to equity investors in a timely note entitled 'Viva the Investor'.
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.
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
---|---|---|---|
Total | 7691 | 13.8% | 31.2% |
ETF | 1412 | 7.7% | 29.2% |
LARGE CAP | 831 | 18.0% | 31.6% |
MID CAP | 1152 | 15.5% | 31.6% |
OTHER | 495 | 67.3% | 32.1% |
SMALL CAP | 3802 | 11.9% | 31.3% |
NIO | 3,498,019 |
VALE | 2,321,276 |
BABA | 1,819,662 |
SPY | 4,650,265 |
XLF | 4,575,848 |
HYG | 4,363,568 |
PFE | 6,339,791 |
UBER | 5,438,504 |
BAC | 5,094,218 |
NKLA | 15,131,208 |
FTCH | 5,437,887 |
TELL | 4,514,634 |
5-days through 12/15/23 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
---|---|---|---|---|---|
Total | 91.5 | 81.5 | 90 | 260 | 7664 |
Smid Cap | 92.4 | 85.9 | 90 | 170 | 4590 |
ETF | 94.3 | 81.8 | 150 | 750 | 1491 |
Large Cap | 89.8 | 76 | 80 | 120 | 711 |
ADR | 94.6 | 87.8 | 110 | 220 | 388 |
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SMID_CAP
ETF
ADR
OTHER