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.
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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.”
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“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.
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