Execution and research broker ITG announced the launch of ITG Smart Limit Algorithm, an algorithm that trades passively in highly competitive, fragmented market.
Acfording ot a press statement, ITG Smart Limit Algorithm, or “SLimit”, is built on ITG’s trading infrastructure. ITG Smart Limit Algorithm employs 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.
He added,“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 Triton 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.
