STAMFORD, Conn., Oct. 15, 2020 /PRNewswire/ -- IntelligentCross, the AI-powered equity trading venue created by Imperative Execution, has joined the ranks of the top Alternative Trading Systems (ATS), rising to a position of 8th, based on trading volume, up from 21st at the beginning of 2020, according to FINRA data as of Sept. 21, 2020. Thirty-one ATS venues report data to FINRA.
IntelligentCross continues to pass longstanding ATS venues, most recently BIDS, while significantly outperforming major exchanges in terms of execution quality.
"Historically, investors had to choose either execution quality or liquidity. They could go to an ATS to get better execution and to exchanges for more liquidity. Now, our technology makes it possible to get the most of both," said Roman Ginis, founder and CEO of Imperative Execution, Inc. that created IntelligentCross.
IntelligentCross uses artificial intelligence (AI) to continuously maximize opportunities to trade at fair value, where the price remains stable after trades. In technical terms, it is matching orders to minimize market impact and adverse selection. A high price stability gives investors confidence they've achieved the best execution possible at the time of the trade -- that all available information was 'priced in.'
Improved execution translates into better performance to investors. Nataliya Bershova, Ph.D., Head of Execution Research at Bernstein, said: "For the third quarter of 2020, Bernstein has traded $2.2 billion through IntelligentCross Midpoint, saving roughly $400,000 in post-match market movement at 20 milliseconds after the match, computed as the mid-to-mid markout for all their trades."
About Imperative Execution, Inc.
Imperative Execution, Inc. is a financial technology company that builds trading venues that solve for efficient market objectives. It is a pioneer in using AI for matching to achieve optimal market design. Founded by former traders and trading technology experts, 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 to optimize order matching to help investors achieve higher performance while maximizing liquidity. To learn more, visit http://www.imperativex.com/intelligentcross.