Clarity and Insights
In an increasingly complex market environment, transactional transparency is more important than ever. Institutional traders need to know what’s working, what’s not, and why. Otherwise, your strategies are no more than educated guesses.
Because we were founded 28 years ago as an independent broker-dealer (and remain so to this day), our sole concern is your best execution. We don’t compete with our clients for liquidity, so we’re not afraid to show you where, when, and how your orders were filled. In addition to industry-leading transparency, we focus on quality liquidity and protect our institutional clients with innovative anti-gaming methodologies. Trade with ITG to gain clarity, insights, and an experience of true advocacy you won’t find elsewhere.
See How Our Dark Pool Operates
In today’s fragmented marketplace, the search for quality liquidity is more challenging than ever. Even the most experienced traders are concerned about gaming, phishing, and other predatory trading practices. Our dark pool—POSIT®—offers proprietary client protection with truly innovative safeguards (like Liquidity Guard) that methodically preserve trade quality and can improve investment performance.
To clearly demonstrate how we provide the highest quality liquidity experience, we publish POSIT’s Form ATS as well as a guide to how POSIT handles client orders.
Trade in the Dark, But View Every Move
POSIT Marketplace®, our global dark aggregator, provides high levels of anonymity and transparency. However, just because we guard against information leakage to achieve best execution doesn’t mean you should be kept in the dark as to the details of your executions. POSIT Marketplace provides extensive execution data, including share execution by venue, spread savings, and more, as do our ITG Smart Router and ITG Algorithms®.
Watch Our Algorithms At Work
ITG was the first to open up a window into the strategies of our algorithms (and smart routers), allowing clients to clearly see every decision in real time. Only ITG Algorithms Prism allows you to track the real-time progress of your order and watch how our sophisticated technology works on your behalf, from the inside out.
You’ll see the order plan and any deviations, real time child order venue, price limit, minimum quantity and order type, average fill prices by market center and order type, estimated order finish time, and other information. And when the trades are filled, we provide detailed execution venue reports—daily, weekly or a time period of your choice.
Get a Closeup View of Execution Data
ITG routinely populates FIX tags with labels such as “executing broker,” “capacity,” and “maker/taker.” So, if you’re using an ITG Algorithm, ITG Smart Router™, ITG Net®, or sending us client-directed flow*, you can receive detailed, granular execution reports on this FIX-generated data.
Get a Window Into Your Entire Investment Process
A pioneer and continuing innovator in transaction cost analysis, ITG measures costs incurred throughout the investment process—from portfolio manager to trader to broker. Our data and tools bring an unprecedented level of transparency to both the equities and the more opaque FX markets.
ITG TCA® assesses trading performance and implicit costs under various market conditions, so you can see how to adjust trading strategies, reduce trading costs, boost fund performance, and potentially improve your fund’s ranking.
See the Quality of Your Executions—As Compared to Your Peers
Our ITG Peer Analytics, using proprietary transaction data from more than 200 leading asset managers, compares each stage of your investment process to that of your peers trading under the same conditions. Our data-driven insights help you assess the quality of your executions, systematically. Know which brokers are working hardest for you on various order types, fine-tune your algorithm choices, understand how your portfolio managers are contributing to trading costs (as compared to peer funds), and much more.