aid: imperative-execution name: Imperative Execution description: 'Imperative Execution is a New York financial technology company and the parent of IntelligentCross, an SEC-registered US equities Alternative Trading System (ATS) that applies machine learning to order matching and price discovery. IntelligentCross operates a non-displayed Midpoint book and ASPEN, a full limit order book with optional displayed capability that is split into three independent books by fee model (Fee/Fee, Maker/Taker, Taker/Maker), all under MPID INCR, with primary matching engines in the Equinix NY4 data center in Secaucus, New Jersey. Registered broker-dealer subscribers reach the venue for order entry over FIX 4.2 across Pico cross-connects, and the venue publishes its own IQX market data feed - a binary, multicast-UDP full depth-of-book and execution feed whose message specification, recovery/rerequest specification, daily symbol mapping file and sample PCAP captures are all published openly.' image: https://cdn.prod.website-files.com/5ee92e3bd621402efc7f2d3f/67e1c4d359b8c0966be92f8d_intelligentCross-logo.png url: https://raw.githubusercontent.com/api-evangelist/imperative-execution/refs/heads/main/apis.yml x-type: company x-source: harvest:secondary-market x-tier: profiled x-tier-reason: enrichment-pipeline specificationVersion: '0.23' created: '2026-08-04' modified: '2026-08-04' tags: - Company - Financial Services - Capital Markets - Trading - Market Data - Equities - Alternative Trading System - FIX Protocol - Multicast Market Data - Fintech apis: - name: IntelligentCross IQX Market Data Feed description: 'IQX is the IntelligentCross proprietary market data feed. It disseminates all visible ASPEN resting orders, cancels for ASPEN visible orders, and all ASPEN executions, plus per-symbol reference data, market state and individual symbol trading states. It is a binary protocol carried over multicast UDP with separate primary (A) and secondary (B) groups per book, and a separate published rerequest/recovery specification. IntelligentCross does not charge for market data through IQX.' humanURL: https://www.imperativex.com/market-data baseURL: https://s3.amazonaws.com/iqx.imperativex.com/ x-transport: multicast UDP (binary). The HTTPS baseURL is the published IQX resource host that serves the daily symbol mapping file and the sample PCAP captures. tags: - Market Data - Equities - Multicast - Binary Protocol - Depth of Book properties: - type: Documentation url: https://www.imperativex.com/market-data - type: APIReference name: IntelligentCross Market Data Feed Specification v1.11 url: http://iqx.imperativex.com/IntelligentCrossMarketDataFeedSpec.v.1.11.pdf - type: Specification name: IntelligentCross IQX Market Data Rerequest Specification v1.08 url: https://cdn.prod.website-files.com/5ee92e3bd6214065dc7f2d48/61dc6cb50403bf15350ea647_IntelligentCross%20IQX%20Market%20Data%20Rerequest%20Specification%20v1.08.pdf - type: AsyncAPI url: asyncapi/imperative-execution-iqx-asyncapi.yml - type: Examples url: examples/imperative-execution-iqx-sample-data.yml - name: IntelligentCross FIX Order Entry API description: 'Order entry into the IntelligentCross ATS books (Midpoint, ASPEN Fee/Fee, ASPEN Maker/Taker, ASPEN Taker/Maker) is accepted only over FIX connections; the ATS currently supports FIX 4.2. Subscribers must be registered US broker-dealers in good standing with an SRO, and reach the matching engines through NY4 cross-connects or a network service provider with an NY4 presence. Book selection is affirmative via the FIX ExDestination[100] tag and defaults to ASPEN Fee/Fee. The FIX specification is provided to subscribers on request from ops@intelligentcross.com.' humanURL: https://www.imperativex.com/faq baseURL: https://www.imperativex.com/contact x-protocol: FIX 4.2 x-transport: FIX over TCP on private cross-connects at Equinix NY4 (Secaucus, NJ). There is no public HTTP endpoint - the baseURL points at the documented onboarding and specification-request surface. x-access: subscriber-only (registered US broker-dealers) tags: - Trading - Order Entry - FIX Protocol - Equities - Alternative Trading System properties: - type: Documentation url: https://www.imperativex.com/faq - type: Authentication url: authentication/imperative-execution-authentication.yml - type: Conventions url: conventions/imperative-execution-conventions.yml maintainers: - FN: Kin Lane email: kin@apievangelist.com - FN: APIs.json email: info@apis.io common: - type: Website url: https://www.imperativex.com/ - type: Documentation url: https://www.imperativex.com/market-data - type: APIReference name: IntelligentCross Market Data Feed Specification v1.11 url: http://iqx.imperativex.com/IntelligentCrossMarketDataFeedSpec.v.1.11.pdf - type: Support url: https://www.imperativex.com/contact - type: HelpCenter name: IntelligentCross FAQ url: https://www.imperativex.com/faq - type: Blog name: IntelligentCross News url: https://www.imperativex.com/news - type: TermsOfService name: Disclaimers url: https://www.imperativex.com/disclaimers - type: PrivacyPolicy url: https://www.imperativex.com/privacy-policy - type: Compliance name: IntelligentCross Form ATS-N (SEC EDGAR) url: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001746102&type=ATS-N&dateb=&owner=include&count=40 - type: Profile name: Forge Global secondary-market listing url: https://forgeglobal.com/imperative-execution_stock/ - type: LLMsTxt url: llms/imperative-execution-llms.txt - type: AsyncAPI url: asyncapi/imperative-execution-iqx-asyncapi.yml - type: Examples url: examples/imperative-execution-iqx-sample-data.yml - type: Sandbox url: sandbox/imperative-execution-sandbox.yml - type: ChangeLog url: changelog/imperative-execution-changelog.yml - type: Conventions url: conventions/imperative-execution-conventions.yml - type: Authentication url: authentication/imperative-execution-authentication.yml - type: Conformance url: conformance/imperative-execution-conformance.yml - type: Lifecycle url: lifecycle/imperative-execution-lifecycle.yml - type: DataModel url: data-model/imperative-execution-data-model.yml - type: DomainSecurity url: security/imperative-execution-domain-security.yml x-enrichment: date: '2026-08-04' status: enriched artifacts_added: 13 pass: local-v1