IntelligentCross Midpoint Delivers More Liquidity and Less Market Impact with Launch of Intraday Optimization

The #2 ATS by volume now optimizes by symbol, in real time, over 66 million times per day.

Stamford, CT | May 8, 2024: IntelligentCross ATS (“IntelligentCross”), a subsidiary of Imperative Execution Inc., announced today that the performance of its new “Intraday Optimization” model exceeded expectations over the first quarter of 2024 by delivering even more liquidity to subscribers in its Midpoint book, with continued reduction in market impact.

Intraday Optimization is real-time technology that allows the platform’s Midpoint matching to adapt in response to market conditions during the live trading day. When the ATS predicts the market will be more stable, it will match subscribers' orders faster for more liquidity. When the model predicts the market will be less stable, it will slow down matching to reduce market impact. Intraday Optimization enables the ATS to optimize in real time over 66 million times a day, on average.

Roman Ginis, CEO of Imperative Execution and Founder of IntelligentCross, said: “The technology that enables us to deliver Intraday Optimization is a leap forward, incorporating our machine learning in real time, to adapt even faster to opportunities for our subscribers’ orders due to nuanced changes in individual stock behaviors. The net result is: more liquidity, plus less impact, equals better performance.” Since the beginning of the rollout of this real-time process in January of 2024, IntelligentCross provided its subscribers with an average of 45,000 more trades per day that had zero markouts – which means the orders did not experience adverse selection or impact within one second after execution. This expansion of liquidity is possible because the platform now evaluates market conditions and self-optimizes quickly and continuously over 66 million times per day.

Roman Ginis added: “Investors should not have to choose between liquidity and performance. We are always looking for ways to deliver scale and yet still minimize market impact. ‘More’ and ‘better’ are things we’re striving for all the time. Intraday Optimization allows us to, in essence, skate to where the puck will be going, versus merely being reactive after the fact. That’s good for the marketplace and good for investors.” The upgrade to IntelligentCross Midpoint is provided automatically, requiring no change in a trader’s workflow.

Subscribers to the ATS will benefit from Intraday Optimization whenever they send orders to the Midpoint book.

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