opportunistic algorithms including POSIT Marketplace, Raider, Float, Hedge Pro,
Pounce, SDMA and Flex. It also has a number of implementation shortfall algos,
such as Active, Dynamic Implementation Shortfall, Dynamic Close, Dynamic Open
and participation-based algorithms VWAP, TWAP and volume participation.
ITG algorithms follow best execution policies and
procedures while focusing on size, information leakage, impact, and adverse
selection. They are fully integrated with POSIT and POSIT Alert to take
advantage of its liquidity. ITG algorithms use Liquidity Filter 2.0, a
proprietary anti-gaming tool that protects client orders from adverse
selection, gaming, and interactions with toxic order flow.
algorithms are tailored to the characteristics of relevant markets, local
exchange policies, specific trading rules, auction trading, and queue
firm’s research provides a quantitative basis for its strategies. For example,
the Dynamic Open and Dynamic Close algorithms have been based on published
research that redefines the way people trade in the market open and close.
ITG provides consultative services on best-usage
practices relating to trading style, risk profile, and workflow. ITG also
provides trade analytics to assess expected and realised trading costs. These
services cover the entire trading spectrum helping clients to minimise
execution costs and maximise performance.
Clients can access ITG algorithms through ITG’s
trading platforms, any third-party execution and order management system, or a
proprietary FIX connection.
ITG algorithms route orders to all major exchanges
and trading venues in the US in accordance with Regulation NMS.
plans to enhance its portfolio algorithm, ITG Dynamic IS algorithm and its
implementation shortfall algorithm, ITG Active algorithm. A passive router to
be embedded in all algorithms is also planned.