ITG LAUNCHES RAIDER ALGORITHM

Posted April 7, 2009

NEW YORK – Agency broker and financial technology provider Investment Technology Group Inc. (ITG), has introduced Raider, a new algorithm that captures trading opportunities by rapidly adapting to fast-paced movements in the market. Orders remain completely hidden while the algorithm seizes liquidity in the open market and dark venues simultaneously.

Raider allows traders to choose levels of aggressiveness to address any market condition. The algorithm rapidly captures attractive spreads and subsequently pulls back when liquidity dries up and the spread widens. Raider is unlike other aggressive algorithms that are tied to a benchmark, such as arrival price. Rather, Raider’s sole focus is to seize favorable liquidity opportunities in both the open market and in dark pools such as ITG’s POSIT Marketplace.

“Raider is a solution for active traders who are faced with a growing list of challenges, from increased volatility and fragmentation to wider spreads and reduced depth of quote,” says Hitesh Mittal, Managing Director at ITG. “Raider’s speed and stealth, along with exclusive access to the buy-side liquidity in POSIT Marketplace, help clients optimize their execution performance by swiftly capturing quality liquidity.”