November 18, 2010

Hedge Pro is available via Investment Technology Group's execution management system, Triton, and will be soon be made available on third-party front-end systems.

The Hedge Pro algo allows traders to execute any North American pair combination, and it supports all major pair trade types such as risk (merger) arbitrage, statistical arbitrage, switch trades and cross-border trades.

"Hedge Pro is designed to maximize investment opportunities by evaluating market spreads and reacting to quotes in real time," says Hitesh Mittal, ITG's head of Liquidity Management. "This new capability gives traders the flexibility to employ virtually any pair trading strategy in the U.S. and Canadian markets."

Hedge Pro is part of ITG's suite of algorithms which, according to company claims, aim to reduce market impact, maximize execution quality and improve trading performance across each new market.

ITG's algo offerings include POSIT Marketplace, Dynamic Implementation Shortfall (IS), Active and Raider. ITG offers its algorithms across North America, Asia Pacific, Brazil and in 21 European markets.

Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining ...