ITG (ITG), a leading execution and research broker, today announced the launch of ITG Smart Limit Algorithm, an innovative tool which helps institutional investors meet the challenge of trading passively in a highly competitive, fragmented market.
ITG Smart Limit Algorithm, or "SLimit", is built on ITG's next-generation, low-latency trading infrastructure, providing powerful high-frequency trading technology to institutional investors. ITG Smart Limit Algorithm employs sophisticated logic to determine optimal order pricing, sizing and routing in order to balance spread capture opportunities and adverse selection risk.
"ITG Smart Limit Algorithm enables institutional traders to compete effectively with high frequency traders when supplying liquidity since it uses similar trading technology and techniques," said Jeff Bacidore, Head of Algorithmic Trading at ITG. "Clients can use SLimit directly when working orders manually or indirectly when using an existing ITG algorithm."
ITG Smart Limit Algorithm and all of ITG's algorithms are available via ITG's award-winning Triton(R) execution management system and also via FIX connection to ITG from third-party trading systems. ITG Smart Limit Algorithm can also be employed on behalf of clients by ITG's high-touch portfolio trading desk. Traders can use the web-based ITG Algorithms(R) Prism tool to gain up-to-the-second visibility into the activity of each ITG algorithm, such as the predicted and realized schedules, fill details, and even the location, type and price of every open child order.