Stop chasing liquidity. Let liquidity chase you...

In the traditional, continuous market with displayed bids and offers, traders are often chasing liquidity. In other words, the price may move away from them the more they buy or sell to what is commonly called “market impact.” On AX, we help bring liquidity. That is the advantage of our call auction model. Liquidity – in the form of participant orders – comes to you to be matched with orders. Traders auctions execute at limit price or not.

And if not, no private information is shown to counterparties.