6.4 million | Orders priced better than the NBBO on arrival |
7110 | Unique displayed securities |
29.6% | Tighter spreads than the NBBO when ASPEN has the best quote |
1.6 bps | Lower adverse selection than maker/taker exchange avg at 20ms |
Last week, on 2/26, IntelligentCross hit a major milestone: we crossed 2% market share as measured by shares matched of the total consolidated volume, single counted. We also set a new high for notional market share at 284bps. This represents over 13% and 6.5% growth, respectively, from the records we set just the previous week.
Last week was also a 52 week high for daily matched shares on the platform, including matched shares of demi-block and larger, shares matched against orders displayed on our free market data feed, IQX, and shares matched against IOC order types.
Combined, this helped push February to our best month overall for market share ever. We thank our subscribers for continuing to trust us with their orders, especially as execution conditions become more difficult, as they did last week. As the VIX climbed to its highest levels since December, we saw notable increases in spreads and post-trade quote instability market wide.
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, Redline and Options.
Unique Names Per Day | Displayed Order Better Than NBBO % | Avg Spread Improvement % | |
---|---|---|---|
Total | 7109 | 15.9% | 29.6% |
ETF | 1960 | 13.2% | 25.4% |
Large Cap | 852 | 18.2% | 31.0% |
Mid Cap | 1065 | 25.4% | 39.3% |
Small Cap | 2755 | 21.0% | 38.3% |
IBIT | 9,562,583 |
XLF | 8,120,948 |
TLT | 5,962,836 |
NIO | 6,907,774 |
VALE | 4,596,688 |
LYG | 3,515,752 |
NVDA | 15,120,849 |
T | 7,770,238 |
NU | 7,518,595 |
LCID | 11,714,204 |
GERN | 4,536,539 |
AAL | 4,500,312 |
5-days through 02/28/25 | Quote Stability @ 20ms | Quote Stability @ 500ms | Average Trade Size | Average Order Size | Active Traded Names |
---|---|---|---|---|---|
Total | 93.7 | 81.3 | 80 | 320 | 8634 |
Smid Cap | 95.5 | 88.9 | 80 | 230 | 4343 |
ETF | 89 | 69.4 | 150 | 590 | 2689 |
Large Cap | 92.7 | 76 | 70 | 130 | 742 |
ADR | 95 | 86 | 120 | 260 | 374 |
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