Investment Technology Group (ITG)
ITG Smart Router uses a lowlatency routing infrastructure to access to a wide range of liquidity including its own dark pool, ITG POSIT. The SOR''s proprietary logic searches for best prices and minimises the risk of trade through. The offering is highly customisable and has the ability to harmonise underlying market microstructure. Execution quality research on a venue level is used to optimise execution.
Access and algorithmic integration
ITG Smart Router is available
via the firm”s Triton
execution management
system (EMS) and numerous
third-party EMS/order
management systems. It is
fully integrated within its
algorithmic trading suite to
ensure best execution.
Destinations
ITG Smart Router is available
in North America and
Europe and will be available
in Asia in Q3 2011. It accesses
all developed markets, many
emerging markets and a vast
selection of non-displayed
liquidity sources. We add new
venues based on client
demand and relevance of
liquidity.
Order types and client reporting
ITG Smart Router accepts all
standard order types
including day, immediate-or-cancel
and fill or kill orders
and also includes the ability
to use discretionary orders.
ITG engages in full
transparency of trading with
our clients and compliance
with best execution
obligations under Reg NMS.
Data feeds
ITG Smart Router uses
proprietary logic to maximise
fill rates, minimise market
impact and improve
execution quality. This logic
uses both real-time and
historical data to accurately
navigate the liquidity
landscape.
Routing logic
Using an event-driven model,
ITG Smart Router rapidly
responds to the best price.
Our environment has been
designed in a load-balanced,
risk-optimised way for
optimal routing speed and
throughput. ITG Smart
Router focuses on best
execution when determining
how, when and where to
route orders.
ITG production
environments are fully
redundant with seamless
failover in the event of outage
and clients are offered fully
customised solutions.
Future plans
Over the coming year ITG
will continue to optimise ITG
Smart Router with industry
leading execution quality
research.