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ITG launches new Dark algorithm

First Published 8th December 2017

ITG's Dark aggregation algorithm captures 82% of all midpoint U.S. block volume

New York - ITG, the independent broker and financial technology provider, has announced enhancements to its dark aggregation algorithm-Dark.

Capturing 82% of all available midpoint block volume in the U.S. equity market, ITG's dark aggregator provides broad access to natural liquidity using an unbiased routing optimization across all major dark pools, and uses advanced segmentation strategies to find quality fills that minimize information leakage.

Available in North America, Dark provides traders with a new one-click block mode and control over order aggressiveness, order type usage, and minimum-fill thresholds with an intuitive urgency parameter. Traders have transparency into real-time child order placement via Triton EMS or ITG's web-based Prism tool.

"One of the most important issues facing global investors is the transaction cost created by unnecessary intermediation in our fragmented marketplace," said Ben Polidore, Head of Algorithmic Trading Products at ITG. "Our goal with Dark is to consolidate the agency block market with an efficient and unbiased product designed to link buyside traders wherever they are."