Europe, Middle East, Africa

Europe’s highest quality electronic broker for four years running1

As the leading non-bank institutional broker in Europe, we help you navigate the new MiFID II liquidity landscape. We are recognized for our full range of brokerage and broker-neutral products and especially for our dark, block and analytics capabilities:

    • #1 provider of dark pool liquidity sourcing algorithms.1
    • Voted outstanding transaction cost analytics (TCA) provider in equities.2 We also cover foreign exchange and fixed income.
    • We are well positioned to assist clients in trading Large In Scale, as one of the top European block crossing network providers1
    • Clients value our agency-style execution and technology-enabled solutions—both brokerage and multi-broker. Our Triton EMS (now with Algo Wheel) is seen as an industry-leading EMS.3

    1Greenwich Associates, EU Equity Investors Electronic Trading Survey, 2017
    2 The Trade, 2017
    3The Trade EMS Survey, 2017

     

How can we help you with MiFID II?

I’m looking for something to help me… ITG solutions
Best execution Design, follow, monitor and review my execution process.

ITG’s centralized best-ex dashboard with pre-, real-time and post-trade decision support analytics and workflow automation support multiple trading styles including portfolio, pairs, single stock, IOIs, RFS and RFQ functionality.

  • ITG Analytics (incl. FX & FI)
  • Trade Surveillance
  • Triton EMS
  • RFQ-hub platform
  • Algo Wheel
  • Agency execution
Finding liquidity Find liquidity under the MiFID II rules and keep track of the changing market landscape. broker crossing networks closing, MTF RPW dark trading being restricted to midpoint, and the introduction of double volume caps.

See below for how ITG can help you find and aggregate liquidity.

  • Agency trading desk (London and Paris)
  • Dark algo
  • Additional named access to broker pools via Dark Allocator
  • Smart order router
  • POSIT Alert
  • POSIT MTF including POSIT Auction
  • Conditional orders
Research Aggregate and manage commission sharing agreements or research payment accounts.

ITG’s solution can deposit RPA funds into an escrow account at a major European bank.

  • Commission Manager(London and Paris)
  • Budget Tracker
  • Direct RPA administration
  • Global CSA/RPA aggregation
Trade reporting Meet my trade reporting obligations.

As a broker, ITG will look to trade on-venue only (subject to client instructions). POSIT Auction (subject to regulatory approval) can help bring together buyers and sellers in an MTF, using an innovative price-discovery process.

  • Agency execution and on-venue trading
  • POSIT Auction

Finding liquidity under MiFID II

Europe’s market structure is undergoing almost unprecedented change. You can read our explorations of the rules and the equity landscape in Building Blocks of the Future and SIs and Liquidity Unbundling.

From market structure analysis to LIS-focused desktop block trading to anonymous or named aggregation of liquidity, ITG is the expert you need. We were voted #1 for our dark pool liquidity sourcing algorithms in Greenwich’s European survey* for the last four years running.

*Greenwich Associates, European Equity Investors Electronic Trading Survey, 2017-2014

I want to access… Description ITG solutions
Block trading venues
  • Desktop and algo conditional order trading venues, focus on large in scale (LIS) blocks; significant growth in run-up to MIFID II
  • POSIT Alert
  • Dark algo
  • Dark Allocator
  • Other ITG algos
Periodic auction MTFs
  • New lit venue type for liquidity-seeking sub-LIS orders; not subject to dark caps
  • An indicative price/size quote will be available and will only become pre-trade transparent on the match
  • Participation/amend windows averaging around 50ms, with randomized uncross taking place within 50-100ms
  • Dark algo
  • Dark Allocator
  • Other ITG algos
  • POSIT Auction
Bank systematic internalisers (SIs)
  • Bank must be one side of each trade and cannot engage in agency or riskless principal trading
  • The equity hedge of a derivative can be considered principal, so nuances apply
  • ITG access can be supplemented with named access via Dark Allocator
  • POSIT Alert
  • Dark algo
  • Dark Allocator
  • Other ITG algos
Electronic liquidity provider (ELP) SIs
  • ELPs provide custom liquidity quotes for IOC execution
  • ITG clients can opt in to certain ELP Sis in specific scenarios through our smart order router
  • Low latency technology and thorough analysis are critical
  • Smart order router (using streaming quotes)
  • Can be embedded in algos

Office and contact information

Dublin
First Floor, Block A
Georges Quay
Dublin 2, Ireland
Main: +353.1.633.8000

London
Ropemaker Place
25 Ropemaker Street
London, EC2Y 9LY, UK
Main: +44.20.7670.4000
High Touch Single Stock: +44.20.7670.4150

High Touch Program: +44.20.7670.4015
TCA: +44.20.7670.4114

Paris
9 Place Vendôme
75001 Paris, France
Main: +33.1.70.96.59.00

Marid
Avenida Brasil 6, planta 1
28020 Madrid, Spain
Main: +34.91.284.4749

RECENT AWARDS

  • 2015 – Best TCA Provider

    Waters Rankings
  • 2016 – Best New Mobile Application (ITG Analytics Incubator)

    Wall Street Letter