Canada

The landscape in Canada has changed dramatically. Not so long ago, trading in equities was the sole dominion of the TSX. Now over 35% of trading is regularly transacted in other venues*. The fragmentation of the markets and alternative trading venues has made traditional (human) trading much more challenging. Not only is it impossible to trade in all places at virtually the same time but with advanced trading analytics, algorithms, and a growing technology arsenal, every component of the investment process can now be scrutinized.

Another significant challenge facing institutions today is the ability to quickly access high quality liquidity. Block liquidity, which once accounted for over 40% of trading in the Canadian marketplace, has now fallen to only 15% to 20% of value traded*. Traders need to use all the relationships, trading skills and technology at their disposal to find liquidity across displayed and non-displayed marketplaces and execution venues, and cross border for interlisted names.

How ITG can help

With our combination of relationships, trading expertise, technology, knowledge, and experience, ITG provides unique service to the Buyside, both globally and locally. Here are a few key examples of what, we believe, sets ITG apart:

Broker-neutral access to high-quality, institutional liquidity

In Canada’s fragmented markets, with so many execution venues, dark pools and gaming hazards, traders need to access quality liquidity without disclosing their intentions to the broader market. ITG provides fast, efficient, broker-neutral access to numerous global liquidity sources, with transparent execution reporting and anti-gaming technology. ITG offers clients access to all available marketplaces including MATCH NowSM, Canada’s continuous dark crossing pool.

Flexible solutions for a wide range of clients

With integrated global technology and multi-asset capabilities, ITG assists Portfolio Managers and Traders in these ways:

  • Optimal portfolio construction
  • Predictive analysis
  • Minimizing trade costs
  • Risk mitigation
  • Best Execution analysis
Improving execution performance

In Canada, ITG developed the Best Market Server algorithm, which facilitates the routing of interlisted stocks. The Best Market Server also underpins all ITG Algorithms® utilized in Canada and executions handled by our Canadian Trading Services group—passing the savings of multi-market trading directly on to you. This expert group adds further value with its broad network of relationships across the country.

ITG’s trade execution systems are all compliant with the latest Canadian regulations governing Best Execution as well as Best Price and Trade Through obligations.

*Source: ITS