Weekly Highlights

• With the VIX near its yearly lows last week and many sector and style indexes trading flat to higher, execution conditions generally improved. Post-trade quote instability declined, and spreads remained inline or narrower. Although trading immediately post-open increased last week relative to the rest of the day, overall average daily volumes were down as ETF and large-cap market share declined in favor of a relative advance in smid-caps.

• Last week, the CEO of Imperative Execution and founder of IntelligentCross, Roman Ginis, received the Instinet Positive Change - Jerome Pustilnik Visionary Award at this year’s Markets Choice Awards. We congratulate Roman, and thank Markets Media, Instinet Incorporated, and especially all of our subscribers for their support of our vision for building a platform dedicated to performant liquidity. There was no better way to celebrate than with the best overall hit rates and longest resting times for displayed orders year-to-date, on the only machine learning calibrated ATS with displayed liquidity, ASPEN.

• If you haven't yet leveraged our platform to boost your trading outcomes, we encourage 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.