SOR/DMA

Advanced logic sources best-priced fills.

ITG’s U.S. Smart Order Router (SOR) delivers market-leading size and price improvement, plus customization and transparency that put you in control. Our early tests returned 1.35x size improvement; try it today to see what ITG’s SOR can do for you.

MULTI-BROKER CONDITIONAL ORDERS

Innovative technology allows you to opt in for automated multi-venue conditional orders. Outsized, trade-now orders may be routed to the largest block crossing networks, including POSIT Alert®.

MAXIMUM VISIBILITY AND CONTROL

Sophisticated real-time tools, including Prism, monitor the full routing process, from execution venue latency to fill rates and execution quality. Custom “fat finger” checks let you control exposure risks.

INTELLIGENT ROUTING AND POSTING LOGIC

Powered by an event-driven routing model, our SOR also has Slimit, a proprietary advanced order handling logic, built in to maximize passive fill rates while also maximizing take rates. Our routing logic sprays multiple destinations to exhaust all quantities at the best available price before moving on to the next price level, resulting in executions equal to or better than the NBBO.

ITG_SOR_Chart

CUSTOMIZABLE DESTINATIONS

Our dedicated team will help you tailor SOR to interact with only the destinations you choose. You maintain complete control over its routing; we do not allow execution venues to further route orders, ensuring you get filled based on your chosen parameters at all times.

TRANSPARENT HALT TREATMENT

ITG’s SOR offers transparent, efficient handling of Limit Up/Limit Down trading halts, so you no longer have to wonder how your orders will be treated. During a halt, open orders move to the primary market to participate in the reopening auction.

ITG_SOR_Table

*Based on Total Fills Received / Total Displayed Quantity for parent orders with limit price equal to far end BBO and size greater than or equal to total displayed at far end BBO. Orders not routed to market makers. Conditional orders not enabled.
**Coming Q3 2016

Available for: Equities

Available in: CanadaUnited States

Smart Retail Routing

ITG Smart Retail Router brings retail broker-dealers high-speed connections to a wide range of institutional liquidity pools, including the exclusive POSIT® pool, major exchanges, ECNs, and ATSs and is supplemented by a broad wholesaler network.

Our low latency model is designed to fill orders faster, rapidly responding to every best-priced quote and beating other market participants to quality liquidity. Handling a variety of order types, the router uses proprietary logic to translate real-time signals into maximized fill rates, minimized market impact, improved execution quality, and abundant liquidity.

ITG_SmartRetailRouter_OC_20150414

Available for: Equities

Available in: United States

Best Market Server

ITG’s automated routing engine for interlisted securities rapidly compares and chooses how to execute an order to optimize price. It compares and evaluates the securities against both the US and Canadian markets using a tight FX rate to identify the best price. Offering narrow FX spreads, Best Market Server is designed to maximize liquidity and provide price improvements in today’s competitive North American FX and equity markets.

Available for: Equities

Available in: CanadaUnited States

Thinking

On Speed Bumps, Exotic Order Types and Left Handed Apple Peelers

ITG Canada has noticed that the ability of the average agency broker to gain top-of-book priority in Canada has diminished over the past 24 months. In our latest Canadian market structure update, we take a deep dive into how the introduction of speed bumps and exotic orders types has likely harmed the ability of investors to capture spread, and we offer some potential solutions for traders and regulators.

RECENT AWARDS

  • 2014 – Best Equities Trading Platform – Broker

    Wall Street Letter
  • 2014 – Alternative Trading System of the Year

    The Asian Banker Financial Markets Awards

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