CrossStream® & CrossStream BLOXSM

Operated as an SEC-registered alternative trading system (ATS), CrossStream® is a completely anonymous, nonquoted trading venue that aims to help you reduce market impact and improve execution quality by matching orders against our deep and diverse internal order flow. CrossStream BLOXSM (Block Liquidity Opportunity Cross), an extension of CrossStream, is an execution venue with a focus on block trading.

CrossStream®, the Fidelity Capital Markets crossing network, can help keep your trading intentions private while seeking execution excellence. CrossStream provides the opportunity to continually match orders anonymously in the upstairs market. It also enables you to execute larger blocks of stock with potentially less market impact than in the downstairs market while still sourcing liquidity and improving execution quality.

Key Features

  • Advanced order types, including market, limit, pegging, discretion, and minimum execution quantity.
  • The ability to match within the NBBO spread, helping to ensure quality executions with minimal market impact.
  • Size-based allocation algorithm helps ensure fair allocation of prints without constantly yielding to larger blocks or orders placed earlier.

Documentation

CrossStream BLOXSM (Block Liquidity Opportunity Cross) is a separate liquidity pool where you can anonymously execute your next block trade. CrossStream BLOX strives to help deliver superior execution quality and offer users the opportunity for size improvement, with minimal market impact.

Key Features

  • Conditional functionality available to fit into current trading workflows to increase exposure and block interaction.
  • All CrossStream BLOX executions occur at midpoint of the NBBO.
For more information on CrossStream & CrossStream BLOX, contact a Fidelity Representative.

888.595.0589

 
 

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