20 August 2017
visit www.avoka.com

Investment Technology Group enhances Best Market Server

31 May 2007  |  1279 views  |  0 Source: ITG

Investment Technology Group, a provider of technology-based trading services and transaction research, today announced that enhanced Best Market Server functionality is now available in conjunction with ITG's existing suite of algorithms in Canada.

The Best Market Server is a routing mechanism that trades interlisted Canadian and US stocks, automatically hedging currency exposures in real time. The new, enhanced Best Market Server supports more sophisticated order types, demonstrates lower latency, and has increased flexibility.

The Best Market Server evaluates orders for dually listed securities against both the US and Canadian markets, using the current foreign exchange (FX) rate to convert prices and seek out the best price and liquidity for the order. Previously, customers who sought liquidity from other venues had to use the Best Market Server separately from other ITG algorithmic trading strategies in Canada. The Best Market Server can be used to execute on behalf of any algorithmic trading strategy or used as a direct market access (DMA) destination.

"ITG is constantly enhancing our global product suite to provide our clients with tools for flexible and efficient trading across borders," said Nick Thadaney, CEO of ITG Canada Corp. "The enhancements to our Best Market Server allow our clients to trade more efficiently by decreasing cross-border trading costs and increasing access to liquidity in both the US and Canadian markets."

Clients use the Best Market Server when they want to capture better prices for interlisted securities in the US and Canadian market, and automate the manual FX conversion process. Clients using the Best Market Server have the ability to accept any combination of limit or fill orders in either in US (USD) or Canadian (CAD) dollars. In addition, the Best Market Server helps clients manage difficult interlisted trades by identifying the more liquid of the two markets. The Best Market Server supports net pricing with commissions chargeable in either USD or CAD.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comdownload the paper nowvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
9447 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8023 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
7568 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
7100 views 0 | 2 tweets | 1 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
6713 views comments | 14 tweets | 12 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job