Intelligent Support for the Pace and Scale of Institutional Investors

Where competitive edges are razor thin, efficiency is a way of life.

Every situation is unique. Let’s discuss what makes sense for you.

Driving the Evolution of Digital Clearing, Custody, Execution, and Routing

Our enterprise-grade solutions help major financial institutions stay ahead through a brilliant attention to detail.

0
Exchange
Memberships*
0
Continents of Active
Investors Supported**
$ 0 T
Notional Value
Cleared in 2021
0 M
Tickets Cleared
in 2021

*NYSE, ARCA, AMEX, NATL, CHX, NASDAQ, BX, PSX, EDGA, EDGX, BYX, BZX, IEX, MEMX, MIAX
**As of 6/30/22
†As of 12/31/21

Apex Pro

Clearing and Custody Built to Adapt at Speed

Investing and trading demands are constantly in flux. It’s essential to have a partner built to evolve in real time. With Apex Pro, we bring you sophisticated and cost-effective transaction clearing with flexible pricing structures that can help increase profit margins.

Custody Solutions

We help investment managers operate smarter and maximize their profitability.

Margin financing
Securities lending, hard-to-borrow locates
Dedicated relationship managers
and product specialists

Settlement Solutions

We tailor settlements to suit your needs.

Broker-to-broker transactions
DVP/RVP processing
through Apex Clearing
Ex-clearing settlements
Apex Coda Markets

Execution Solutions

Bring Aggregated Liquidity to Orders On Demand

Apex CODA aims to increase investment returns for participants by removing time from the trading process. We pioneered the development of on-demand auction markets that reduce the costs associated with shaving sub-seconds or addressing information leakage in order placement. Our markets facilitate hundreds of thousands of competitive stock auctions every day and are anchored by billions of shares of unique on-demand aggregated liquidity. At the same time, we provide flexible routing, so you can build your approach precisely as you see fit.

CODA Markets is a FINRA-regulated broker-dealer that operates an electronic equity alternative trading system under SEC Regulation ATS.

Apex CODA Fuse: Trade With More Than Two Counterparties

Seamlessly capture today’s diverse algorithmic liquidity from multiple source and order types. Our multilateral execution in a single print virtually eliminates leakage.
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Apex CODA Block: Execute Large Orders in a Single Transaction

Initiate a unique multilateral auction on demand to execute large orders in a single transaction.
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Apex CODA Micro: Match Within Milliseconds

Initiate a sub-second auction that transacts against aggregated buy-side and algorithmic liquidity at or within the National Best Bid and Offer (NBBO).
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Apex CODA Flare: Flexible Routing and Posting

Get access to liquidity wherever it resides, in or out of the Apex CODA marketplace — all paired with customized routing.
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ALISA Research: Advanced Liquidity Studies and Analytics

Using our advanced proprietary market-analytics system, our research team helps clients evaluate liquidity conditions, cost across the entire market, and performance of Apex CODA orders.
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Liquidity Protection Rule

CODA uses ALISA analytics to set the Liquidity Protection Rule (LPR).* The LPR places guardrails on auction prices (based on the security’s liquidity profile and trade size) to prevent excessive price movements.
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Please visit our page on liquidity protection and register to access the CODA Liquidity Protection Rule Calculator.

*The Liquidity Protection Rule is the result of data analysis. Performed by ALISA (Advanced
Liquidity Studies and Analytics), a data platform operated by CODA Markets, Inc.

Take the Next Step
Talk to us about how we can help set you up for success.