Weekly Highlights

• Last week, IntelligentCross set a new record for notional market share. On Monday, we matched just over 217bps of the total consolidated dollar value traded. In fact, we matched more notionally than 12 exchanges. This has helped drive our year to date notionally matched growth to more than 74% versus the same period last year.

• Last week was also our most patient week ever in Midpoint, as measured by the percentage of orders canceling in a half-second and longer, with average order duration lasting 11 seconds. In ASPEN, it was a top 5 week for the year for displayed orders of median trade size and larger on our free market data feed, IQX. This may be why our subscribers value the performance of IntelligentCross even in a week when spreads were widening and quote counts increased on balance in more active names.

• Looking ahead, there are some important microstructure events to work through in June such as the Fed decision this week, and the Russell Reconstitution on June 28th. Join us next week for a more indepth look at both. We can say that so far, trading in names that Russell has published as possible adds and deletes has not dramatically changed since April 30th, with the exception that average trade size among deletes seems to have fallen, but remained relatively stable for adds.

• 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.