Investment Technology Group (NYSE: ITG), a leading agency broker and financial technology firm, today introduces Raider, a new algorithm that captures trading opportunities by rapidly adapting to fast-paced movements in the market.
Orders remain completely hidden while the algorithm seizes liquidity in the open market and dark venues simultaneously.
Raider offers varying levels of urgency, allowing the trader to choose the precise level of aggressiveness to address any market condition. The algorithm rapidly captures attractive spreads and subsequently pulls back when liquidity dries up and the spread widens. Raider is unlike other aggressive algorithms that are tied to a benchmark such as arrival price. Rather, Raider's sole focus is to seize favorable liquidity opportunities in both the open market and in dark pools such as ITG's POSIT Marketplace.
"Raider is a solution for active traders who are faced with a growing list of challenges, from increased volatility and fragmentation to wider spreads and reduced depth of quote," said Hitesh Mittal, Managing Director at ITG. "Raider's speed and stealth, along with exclusive access to the buyside liquidity in POSIT Marketplace, help clients optimize their execution performance by swiftly capturing quality liquidity."
At the core of POSIT Marketplace is ITG's Liquidity Filter technology, which ensures that orders proactively avoid interaction with toxic liquidity. Raider can be accessed from any of ITG's execution and order management systems, including Triton, Radical, ITG Channel, Macgregor XIP, or any third-party EMS or OMS.