ITG has announced the launch of Close algorithms in Mexico and Brazil as it pushes its electronic trading services into Latin America.
The Close algos will incorporate order imbalance information and adapt to changing intra-day market conditions, ITG said.
In addition, ITG is planning to launch electronic direct market access (DMA) for Columbian equities later this year.
Managing director at ITG, Eric Blake, said the launch of the Close algos in Brazil and Mexico are “key additions” to the services already on offer.
ITG is building on its current services in Latin America, where its POSIT Alert on-exchange block crossing, algorithmic trading and single-stock trading are already available across the region.
Head of US and Latin America algorithmic trading at ITG, Ben Polidore, added the algorithms have been adapted to local market structures.
He said: “These algorithms draw upon ITG’s deep expertise in efficiently sourcing liquidity in volatile or rapidly changing market conditions.”