European policy makers want to make dark pools revert to their original purpose as places for trading blocks of stocks, rather than venues that break orders into tiny slivers. Algorithms may help turn that goal into reality.
With those regulations in mind, Investment Technology Group Inc. has revamped its program for finding the best prices for large trades, it said in a statement Tuesday. The broker, which also operates its own venue, probably won’t be the last firm to roll out block-friendly features.
Agency-only brokerage ITG has rolled out a new algorithm that makes dark pool liquidity available to portfolio traders.
The company unveiled its Dark List Algorithm, a next-generation algorithm which brings the firm's dark trading capacity to portfolio traders.
ITG congratulates Jamie Selway, Head of Electronic Brokerage, who moved up from the 26th to the 22nd spot on Institutional Investor’s annual global ranking of the most prominent innovators and managers in the field.
Investment Technology Group Inc., the New York-based brokerage and technology firm, is opening a new dark pool for bond trading later this year.
The firm, which has traditionally focused on stock trading, is trying to tap into growing demand from investors to trade U.S. corporate bonds among each other at lower costs through electronic networks, rather than through dealer banks.
Chinese companies have invested heavily in Alberta’s energy sector, but has it paid off for them? Recent high-profile difficulties experienced by some of China’s largest energy companies have brought their over $30-billion investment in the region into sharp focus, with many wondering if their big bets on Canadian oil sands will be a bust. Listen to ITG’s Samir Kayande, Director, Energy Research, ITG Investment Research, discuss China’s troubles in the region, and his thoughts on their course for the future.
New York – ITG, the independent execution and research broker, has acquired RFQ-hub, a multi-asset platform for global listed and OTC assets. RFQ-hub connects buy-side trading desks and portfolio managers with a network of sell-side market makers, allowing them to place requests for quotes (RFQs) in OTC-negotiated equities, futures, options, swaps, convertible bonds, structured products and commodities. The platform will be rebranded as ITG RFQ-hub. It will remain available as a standalone platform and will also be integrated into ITG's Triton execution management system. Read more.
Michael Orsinger, chairman of Johnson & Johnson's ($JNJ) DePuy Synthes orthopedics unit, said May 22 that customers are demanding a "one stop shop" approach toward implants, predicting that it will drive continued consolidation in the industry.
When Big Pharma starts talking about big buyouts, the sales and marketing departments start chattering about their jobs. Last week's Novartis-plus-GlaxoSmithKline cancer deal is one prime example. Another, bigger one: Pfizer's proposed $100-billion-or-so buyout of AstraZeneca.
GE Healthcare ($GE) is looking to cash in on the march toward hospital efficiency. It announced the acquisition of operating room management and analytics solutions provider CHCA Computer Systems today for an undisclosed amount. The deal is expected to close in the second quarter of 2014.
ITG announced the launch of ITG Smart Limit Algorithm, or "SLimit". ITG Smart Limit Algorithm employs logic to determine optimal order pricing, sizing and routing in order to balance spread capture opportunities and adverse selection risk. "ITG Smart Limit Algorithm enables institutional traders to compete effectively with high frequency traders when supplying liquidity since it uses similar trading technology and techniques," said Jeff Bacidore, head of algorithmic trading at ITG. He added, "Clients can use SLimit directly when working orders manually or indirectly when using an existing ITG algorithm." Read more.