Agency broker ITG has adapted its series of algorithms for Mexico, including its Active algorithm, which has been customised for the local market.
The Active algorithm, which has been tailored for the spread profile and structure of the Mexican market, provides liquidity to capture the spread, while releasing opportunistic orders to try and ensure trading completes as anticipated.
The algorithms will be available through the agency broker's Triton execution management systems, as well as third-party platforms, via FIX.
“Regulatory and technological changes are accelerating the move towards electronic trading in Mexico, and our tailored algorithms provide a valuable new tool for institutional asset managers seeking to access that market,” said Jeff Bacidore, managing director and head of algorithms at ITG. “These algorithms are designed to reduce market impact, maximise execution quality and improve trading performance in the Mexican equity market.”
The addition of Mexico to ITG's algo suite complements its existing Latin American trading solutions, including strategies for the Brazilian market. The firm now offers its algorithms in 35 markets across EMEA, the Americas and Asia-Pacific.