Client Sign In  |  Home  |  Contact Us

ITG Algorithms℠

When it comes to trading, there’s always room for improvement. That’s why ITG Algorithms are designed to automate trade executions based on unique insights from pre- and post-trade analysis.

ITG has been a pioneer and a leading innovator in algorithmic trading, and today we have some of the most sophisticated automated strategies available, all aimed at reducing market impact, maximizing execution quality, and improving overall trading performance. Plus, ITG Algorithms streamline your work processes, letting you add value to trades that need more attention.

Leveraging our proven expertise in pre-trade analysis and post-trade evaluation, ITG Algorithms offer access to a wide range of liquidity pools. ITG Algorithms are divided into three categories – Dark, Single-Stock, and List-Based Algorithms – to help meet your trading objectives.

ITG Dark Algorithm®
Reach multiple liquidity destinations; get one ticket at the end of the day and set parameters to meet your objectives

  • ATS – Splits orders among only ATS destinations – the POSIT® crossing suite, and multiple broker, exchange and standalone ATSs
  • Opportunistic – Uses IOC orders to search for hidden liquidity in ECNs and ATSs
  • Float – Achieve higher fill rates than ATS or Opportunistic using a passive algorithm to earn the spread in the open market

ITG Single-Stock Algorithms
Seamlessly access ATS liquidity while using scheduled or opportunistic strategies

  • Active – Provides liquidity to the markets and opportunistically takes liquidity while maximizing ATS usage
  • Flexible Participation – Highly customizable; trades proportionally to equity market volume, varying execution velocity based on performance relative to an index or benchmark price level 
  • Volume Participation – Participates at a percentage of printed volume
  • Time Weighted Average Price (TWAP) – Works orders over the specified time horizon, spreading trades along a linear volume distribution
  • Volume Weighted Average Price (VWAP) – Works orders over specified time horizon, spreading trades along historical volume distribution
  • Market Order Close (MOC) Algorithm – Estimates price movement and controls market impact into the close
  • Best Market Algorithm – Automatically finds the best price in North America for orders in inter-listed securities, designed for the trading of Canadian-US interlisted securities
  • Foreign Exchange (FX) Server – Works seamlessly and eliminates the inefficiencies of time consuming FX-conversion, available on both sides of the border. This algorithm provides U.S. dollar trading of Canadian securities and Canadian dollar trading of U.S. securities.

ITG List-Based Algorithms
Manage list imbalance and risk using automated portfolio trading with integrated ATS access

  • Dynamic Implementation Shortfall –Minimize implementation shortfall over time and control dollar and sector imbalances, liquidity exposure, and risk levels, while accessing ATS liquidity.  Optimally trade lists from transitions, portfolio rebalances, and cash flows.
  • Dark List – Uses proven statistical model to slice orders to ATSs, keeping the list sector and dollar neutral

ITG is continually developing cutting-edge algorithms to anticipate the needs of our customers.  ITG Algorithms provide a number of key benefits:

  • Best Practices – Automated strategies based on trading processes with proven success
  • Repeatability – Integration with pre- and post-trade analytics results in a feedback loop for greater consistency of execution
  • Broad Liquidity – Direct access to major exchanges, ECNs, and ATSs, as well as the huge liquidity pool and cost-effective crossing ability of POSIT
  • Exceptional Service – Supported by the customization and consulting expertise of ITG’s renowned client service team

ITG RoutersSM
Need to search quickly for liquidity? Want to capture the best trading opportunities? ITG meets the challenge for high-speed, efficient tools in the search for liquidity.

  • Smart – Provides single destination for routing multiple symbol and order types; automatically searches for the best available prices in all markets and connected ECNs; offers flexible, user-defined trading options such as price and size discretion and after-hours matching.
  • Smart Multi – Multiple posting functionality provides the option to intelligently manage simultaneous presence in multiple execution venues.
  • Block – Executes large orders with minimal impact in pursuit of substantial liquidity; avoids repetitive small-sized prints and allows for greater price improvement; designed for intelligent aggression and to avoid sending signals of  intent. 
  • Block ATS – Combination of Block and ITG Dark Algorithm; provides consolidated access to ATS liquidity and public markets with one order type to reduce workflow fragmentation.

For more information e-mail us at  info@itg.com or click here for regional contact information.