Agency broker and technology provider ITG has rolled out its pan-European Allocator liquidity solution with the added capability of ITG Single Ticket Clearing, the firm's trade aggregation offering.
ITG's Allocator combined with ITG Single Ticket Clearing allows traders to consolidate allocations and settlements across multiple brokers and execution venues into a single aggregated delivery to each custodial account, while maintaining transparency with their brokers for commission credit and transaction cost analysis purposes.
Integrated single ticket clearing is intended to provide significant savings in custodial ticket charges and back-office costs. ITG developed the system based on the Clearvoyance settlement aggregation software it acquired from systems vendor ESP Technologies on 16 December 2011.
At the time Bill Stephenson, head of global trading strategy at asset manager Franklin Templeton, said, “As an early adopter of trade ticket aggregation services, we have achieved significant benefits in terms of lower costs, streamlined client servicing and increased trade flexibility.”
ITG now claims to be the first broker to offer a solution that enables buy-side traders to manage liquidity aggregation across all available dark venues, employing anti-gaming technology to protect orders from adverse selection.
“Allocator empowers our clients to capture liquidity available across multiple venues, minimising opportunity costs and improving trade performance,” said Rob Boardman, managing director and head of ITG's European business. “The single ticket aggregation capability enables our clients to remove limits on the number of venues accessed and minimum execution size thresholds while still controlling costs.”