AI-Driven IntelligentCross Posting Best Displayed Prices in U.S. Equities Market
Using artificial intelligence in matching buyers and sellers, IntelligentCross offers prices as much as 30% better than the bid/offer spread available to investors at the exchanges, says Exegy, a leading market data firm.
STAMFORD, Conn., Dec. 16, 2020 /PRNewswire/ — Imperative Execution, Inc. today announced that IntelligentCross, its AI-powered equity trading venue, offers better displayed prices than the exchanges nearly 7 million times per day, offering an average price improvement of 30% of the publicly available spread, according to Exegy, independent market data firm and a recognized thought leader in market data and predictive signals.
For example, the spread for Tesla, Inc. on IntelligentCross at those times is 32% better on average than the best price available on the exchanges.
“The superior quotes on IntelligentCross are due to our AI innovation in matching buyers and sellers close to fair value,” said Roman Ginis, founder and CEO of Imperative Execution. “We are pleased that Exegy, which distributes our prices to major U.S. brokers, has just independently analyzed our price data and reports significant improvement versus exchange quotes.”
Better prices are drawing more trading volume to IntelligentCross, with the platform rising to 9th place on the FINRA ATS volume table, as of Nov. 23, up from 21st at the start of the year. https://otctransparency.finra.org/otctransparency/AtsData
“Point72 Ventures was an early investor in Imperative Execution because we believed it was an innovative new approach to execution that could help make our markets better and more efficient, and the early results are incredibly impressive,” said Steve Cohen, Chairman and Chief Executive Officer of Point72.
“By any measure, a venue that offers tighter spreads in thousands of the most liquid securities, is a significant market structure improvement over the existing exchange matching process. We are happy to be a participant on IntelligentCross and see 1.5 basis points of price improvement for our orders,” said Nataliya Bershova, Ph.D., Head of Execution Research at Bernstein.
Brian Bulthuis, Instinet’s Head of Quant Trading Strategy – Americas, said: “We have been trading on IntelligentCross since its launch two years ago, and its innovative design delivers what it promises in execution quality. The venue plays a key role in the performance objectives of our trading algorithms, and it has been exciting to participate in the venue’s rapid growth, especially this year.”
David Taylor, Chief Technology Officer at Exegy, reported: “Our analysis indicates IntelligentCross provides consistently superior prices compared to the best quotes available on U.S. exchanges. As the leading provider of global market data solutions, we take pride in being the first to bring data from new and innovative venues to our clients, and we have supported the IntelligentCross IQX market data feed since December 2019. We are a believer in the power of AI to deliver game-changing performance improvements, as we have shown with the quantifiable value of our Signum offering – real-time predictive signals for execution algorithms and alpha-seeking strategies.”
About Imperative Execution, Inc.
Imperative Execution, Inc. is a financial technology company that builds trading venues that optimize execution performance. It is a pioneer in using AI in market design and order matching. Founded by former traders, Imperative Execution, Inc. is the parent company of Intelligent Cross LLC, which operates the IntelligentCross ATS, the industry’s first smart venue to use AI in order matching to achieve high execution performance. To learn more, visit intelligentcross.com.
