Forefront Communications

Reuters: AI-Driven Stock-Trading Venue Eyes U.S. Exchange Status, Adds New Pricing

LiquidityBook

Alexandra Hamer

Alexandra Hamer

Imperative Execution, an upstart, artificial intelligence-driven U.S. stock trading venue operator, is going after the business of the New York Stock Exchange and other bourses by adopting their pricing models and may soon register as an exchange, the head of the company said on Wednesday.

Imperative Execution runs IntelligentCross, a trading platform known as an alternative trading system (ATS) that uses AI to measure its own performance in real time and then make adjustments aimed at improving the quality of stock executions to save investors money.

ATSs are government-registered, broker-run trading venues that have less regulatory burdens than stock exchanges, allowing them more room to innovate, but their bid and offer quotes do not appear on the public data feeds, limiting their reach to subscribers.

Now IntelligentCross plans to either become an exchange, or partner with an existing exchange, to distribute its quotes to the public so it can better compete with the likes of Nasdaq Inc and Intercontinental Exchange Inc’s NYSE, said Chief Executive Officer Roman Ginis.

“We’re offering products that none of the exchanges are currently offering,” he said. “We demonstrated that we’re creating value, we’re growing, and now we’re graduating to offer this product to the broader market.”

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