Executions and Liquidity
STXG utilizes an integrated trading platform that automates access to markets including the NYSE, AMEX, NASDAQ, and all major ECN’s with additional services for VWAP and Algorithmic trading strategies. We strive to provide one of the lowest average effective spreads in the industry.
STXG’s system offers automatic execution for eligible orders under normal market conditions at the displayed price and size determined by the national best bid and offer (NBBO) at the time of receipt of your order. In NYSE and NASDAQ listed securities, executable market and marketable limit orders up to 5,000 shares will be automatically executed regardless of the size at the NBBO. We offer VWAP Services based upon both time and volume, to the best of our ability.
Orders in less liquid, high priced, and/or more volatile securities are subject to lower liquidity guarantees. During periods of unusual market conditions, we reserve the right to adjust our execution parameters accordingly. In instances when the NBBO is locked or crossed, we follow FINRA guidelines as prescribed for handling these situations. StockCross Trading Group’s automatic execution policy is intended for normal market conditions. Orders received during abnormal market conditions may be subject to lower liquidity guarantees. In addition, our liquidity guarantee is intended to cover individual orders. Multiple orders that are the result of a single investment decision may be treated as a single order to the extent that the aggregate size of these orders exceeds our guaranteed liquidity threshold. StockCross Trading Group reserves the right to adjust liquidity guarantees on a client by client basis.
Single Price Opening for All Securities
STXG’s system provides an automated, single-price opening. Eligible pre-opening market and marketable limit orders will be priced based on the opening print on the primary exchange for Listed issues and generally at the NASDAQ Official Opening Price (NOOP) for NASDAQ issues. Oversized orders (10,000 shares or $200,000) and orders received after 9:28:00 a.m. EST are not guaranteed the NYSE or NASDAQ opening price.