ITG Unveils Flexible Participation Algorithm

May 17, 2007 ( - Investment Technology Group, Inc. has added the capability to its ITG Algorithms trading tool suite for clients to customize their level of participation in the overall market volume of a single stock at specific index or benchmark levels.

According to a press release  from the trading services transaction research provider, the Flexible Participation algorithm offers clients access to liquidity sources through ITG’s Dark Algorithm, a liquidity seeking algorithm. Clients would use the algorithm when they want a steady flow of liquidity and maintain a certain percentage of a stock’s trading volume.


The new capability gives clients the ability to:

  • Trade at a specified rate of participation at all times and within a price limit;
  • Vary the volume participation rate depending on the intraday stock performance relative to an index or benchmark;
  • Specify trading style, such as layering, reversion, momentum, and custom rules, while indicating the percentage at which they would like to complete the order;
  • Determine the price level at which they would execute either a whole trade or a percentage of the trade.
  • To expose the order via ITG’s Dark Algorithm to reach ITG’s liquidity pools, POSIT Match, POSIT Now, and BLOCKalert, as well as to other alternative trading systems (ATSs) and electronic communication networks (ECNs).

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