Daily Displayed Highlights
4-days through 01/10/25
4.4 million | Orders priced better than the NBBO on arrival |
6877 | Unique displayed securities |
30.8% | Tighter spreads than the NBBO when ASPEN has the best quote |
1.8 bps | Lower adverse selection than maker/taker exchange avg at 20ms |
Weekly Highlights
Despite a down week for the major indexes and an increase in VIX, execution conditions generally remained in line with recent norms, with a few notable exceptions. Early trading quote stability was lower, correlated with volume spikes around 10am news on 1/7 and 1/8. XTIA, which briefly crested near 10% of overall market volumes prior to its reverse split, kept smid-cap average volumes and trade sizes disproportionately high, while FUBU drove the same effects in consumer services. Spreads widened more in REITs than elsewhere reflecting their general underperformance.
IntelligentCross had a record day for Tier 1 market share by volumes traded, coming in at just over 2.5% on 1/10, single counted. It was also our best week ever for daily match quantities of demiblocks and larger. This helped propel the week into the top 4 for daily matched shares and orders displayed on our free market data feed, IQX.
If you haven’t explored how our platform can enhance your trading performance, we invite you to connect with us. ASPEN displayed quotes are available via the IQX market data feed, accessible directly or through providers such as Exegy, MayStreet, and Option.
Displayed Quote Stats
4-days through 01/10/25
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
|---|---|---|---|
Total | 6833 | 14.1% | 30.8% |
ETF | 1821 | 10.5% | 25.8% |
Large Cap | 836 | 19.9% | 34.1% |
Mid Cap | 1073 | 24.6% | 38.9% |
Small Cap | 2824 | 21.7% | 39.0% |
Top Symbols
ADR
| BBD | 12,977,758 |
| ABEV | 5,123,306 |
| VALE | 2,818,168 |
ETF
| XLF | 7,198,699 |
| IBIT | 4,475,119 |
| HYG | 4,223,404 |
Large Cap
| NVDA | 6,925,605 |
| INTC | 4,286,922 |
| F | 4,042,445 |
Smid Cap
| FUBO | 6,802,591 |
| PLUG | 4,919,899 |
| RGTI | 4,641,112 |
Trading Information
4-days through 01/10/25
4-days through 01/10/25 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
|---|---|---|---|---|---|
Total | 94.2 | 83.3 | 90 | 310 | 7721 |
Smid Cap | 95.3 | 88.7 | 80 | 220 | 4273 |
ETF | 90.5 | 73.3 | 150 | 620 | 1929 |
Large Cap | 93.5 | 79.2 | 70 | 120 | 737 |
ADR | 96 | 89.2 | 130 | 260 | 367 |
Percent Names Traded by Share Group
LARGE_CAP
SMID_CAP
ETF
ADR
OTHER