Agency broker and financial technology firm ITG has launched its proprietary Active algorithm for Brazilian equities.
The algo has been added in response to growing demand that the firm sees from global clients investing in Brazil who are developing electronic trading strategies. Active is available via ITG's execution management system, Triton, as well as via FIX and Bloomberg EMSX. Other time-based Brazilian algorithms will be available shortly.
“The Brazilian market is increasingly important for the institutional asset managers we serve, and we are pleased to offer them an algorithmic trading solution tailored to the specifics of this market,” said Andrew Larkin, managing director and head of US international sales at ITG. “The Active algo for Brazil is a valuable addition to electronic trading toolkits.”
The Active algorithm provides liquidity to capture the spread, while releasing opportunistic orders to try and ensure trading completes as anticipated. It was developed using feedback from several buy-side institutions and ITG says it has been customised for the structure and spread profile of the Brazilian market. The firm adds that Active uses anti-gaming logic to help protect orders against predatory practices, information leakage and adverse price movements.
Active is part of ITG's suite of algorithms which includes POSIT Marketplace, Dynamic Implementation Shortfall, Dark List and Raider. In addition to Brazil, ITG offers its algorithms across North America, Asia-Pacific and in 21 European markets.