All IntelligentCross ATS subscribers must be registered broker-dealers.
For both UAT and Production, subscribers can connect via cross connects within NY4. Pico is our network service provider. Please contact us at email@example.com.
No. IntelligentCross ATS does not route any order flow.
The IntelligentCross ATS matching engine is located in Equinix NY4.
IntelligentCross ATS does not offer the ability to co-locate directly with the matching engine.
The MPID for IntelligentCross ATS is INCR.
The MIC code for IntelligentCross ATS is INCR.
The IntelligentCross ATS Production system Start and Acceptance of Subscriber Connectivity is 8:30 am EST. Acceptance of Order Entry is 9 am onwards. Regular Matching Hours are 9:30 am to 4:00 pm. *(Holiday hours as the exception)
IntelligentCross ATS supports order entry via FIX 4.2 only.
IntelligentCross ATS trades only NMS securities.
IntelligentCross ATS sources its market data from a combination of the SIP (NYSE CTA feeds and Nasdaq UTP) and direct market feeds.
No. IntelligentCross ATS executes all orders at the NBBO midpoint at the time of execution.
IntelligentCross ATS executions are printed to the FINRA NYSE TRF as primary and FINRA NASDAQ TRF as backup.
IntelligentCross will match orders that qualify as “Qualified Orders” (as described below) in time-priority order (based on the time the order enters the ATS) and subject to a mandatory resting period.
Only Midpoint Peg Orders are accepted by the system. Any other order type will be rejected by the system.
A reduction in quantity is the only change that will maintain an order’s current priority in the IntelligentCross ATS. All other changes will result in the order being treated as a new order.
Yes, the system supports both Odd and Mixed lots.
Yes. IntelligentCross does not ‘aggregate’ or ‘bunch’ fills for this feature. Each fill from IntelligentCross will be of a quantity equal or greater than MinQty specified by the client on the order.
In the case where the LeavesQty falls below the MinQty on an order, IntelligentCross treats the MinQty as one (1), meaning any amount of the remaining shares can be filled.
The ATS will not effect a match if the inside market for the stock is crossed (where the NBB price exceeds the NBO price), but will effect a match if the market for a stock is locked (where the NBB price is equal to the NBO price). In the event of an execution during a locked market, the cross will be executed at the locked price.
Yes. If the ATS receives two orders with the same ClientID (Broker MPID) and same SenderSubID, the orders will never cross.