The Tradetech Daily

Investment Technology Group (ITG)

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.


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


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


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