Weekly Highlights

• Last week, on October 16th, IntelligentCross reached a new market share record for notional traded, surpassing 235 basis points single counted. This growth was driven by Tier 1 names, where we exceeded 240 bps. More importantly, as our market share expands, so does the breadth of our offering. Last week marked the fifth consecutive week of setting a new record for the average number of names with active order flow.

• Overall market conditions, as measured by post-trade quote stability, spreads, and consistency in intraday volume curves, appeared favorable for algorithmic trading, even as leadership shifted to more yield-sensitive sectors like Utilities and REITs. Nevertheless, average trade sizes in large-cap names declined as IntelligentCross gained market share. We experienced top-5 weeks of the year in both hit rate and daily block quantities executed in large-cap names while maintaining superior post-trade performance versus the exchanges, highlighting our unique performant liquidity.

• If you haven't yet explored how our platform can enhance your trading, we encourage you to connect with us. Our ASPEN quotes are available through the IQX market data feed, accessible directly or via providers like Exegy, MayStreet, and Option.