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| Enhanced Liquidity |
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Our ability to enhance liquidity increases our clients’ certainty of execution.
When natural liquidity is not present in the marketplace, we have the ability to commit our own capital to complete trades on our client’s behalf. We use this capability to reduce the effects of volatility and minimize slippage.
We believe certainty of execution is demonstrated in a market center’s ability to execute orders “at-or-better”* than the consolidated NBBO.
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At-or-Better* |
| All Nasdaq |
84.50% |
| Nasdaq 100 |
81.10% |
| Nasdaq Captial Markets |
78.70% |
| Listed S&P 500 |
87.50% |
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* "At-or-Better" percentage calculation for March '08 in market orders of all sizes (100-
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9999 shares). Data provided by the Thomson Transaction Analytics.
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