Innovative Algorithm Sources Quality Liquidity From Dark Markets
NEW YORK, Oct. 15, 2014 (GLOBE NEWSWIRE) -- ITG (NYSE:ITG), a leading execution and research broker, today announced the launch of the POSIT® Marketplace 3.0 algorithm, which combines ground-breaking technology and proprietary analytics to increase fill rates in non-displayed venues while filtering out potentially toxic liquidity.
"POSIT Marketplace 3.0 represents a major advancement in dark trading capability," said Ben Polidore, Managing Director, Algorithmic Trading at ITG. "Built on a low-latency platform with direct connectivity to POSIT Alert and more than 25 execution venues, POSIT MP 3.0 employs machine learning techniques and ITG's proprietary liquidity filter to source high-quality flow from nearly any dark pool, all while minimizing information leakage."
Also commenting on the launch, ITG's Head of Algorithmic Trading, Jeff Bacidore, said, "POSIT Marketplace 3.0 moves beyond dark aggregation to dark optimization. It is built on the fundamental insight that the methods used for sourcing liquidity are every bit as important as which dark venues are accessed."
POSIT Marketplace 3.0 can be accessed via ITG's award-winning Triton® execution management system and also via FIX connection to ITG from third-party trading systems. POSIT MP 3.0 is fully integrated with ITG Prism for Algorithms®, which provides unparalleled real-time transparency throughout the life of an order including fill details, and the location, type and price of every open child order.
POSIT Marketplace 3.0 is part of ITG's full range of global electronic trading solutions, including algorithms in 40 markets across the Americas, Asia Pacific and the EMEA region and POSIT® dark crossing in 33 countries. For more information about POSIT Marketplace 3.0, please visit www.itg.com/lp/pmp3/ or contact us at firstname.lastname@example.org.
ITG is an independent execution and research broker that partners with global portfolio managers and traders to provide unique data-driven insights throughout the investment process. From investment decision through settlement, ITG helps clients understand market trends, improve performance, mitigate risk and navigate increasingly complex markets. ITG is headquartered in New York with offices in North America, Europe, and Asia Pacific. For more information, please visit www.itg.com.
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