ITG Launches Market Compass, Augmenting FX Forecasting Capabilities

ITG Market Compass will aim to help streamline a variety of tasks for traders and market participants.

ITG (NYSE:ITG), an independent execution broker and research provider, has launched Market Compass, a mobile application based on predictive modeling techniques for traders, according to an ITG statement.

ITG Market Compass will aim to help streamline a variety of tasks for traders and market participants, including market openings, advanced modeling methodologies, and sector-specific forecasting. The offering will be geared primarily for institutional traders, with a specific emphasis on equities and foreign exchange (FX) trading.

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The new application is also available on the ITG’s Analytics Incubator, and is eyeing the Australian, New Zealand, Hong Kong, Japanese, and Singapore markets, with the provision for additional regions forthcoming.

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To be more specific, ITG’s Analytics Incubator currently possesses several liquidity cost and volatility index mobile applications – these include, among others, Smart Cost Estimator for Post-Trade Analysis, ITG Equity Trading Cost Index, ITG FX Trading Cost Index, FX Pre-Trade Prototype, and the Swing Pricing Prototype.

According to Ian Domowitz, Managing Director and Head of Analytics at ITG, in a recent statement on the launch: “ITG Market Compass is an innovative tool that allows people trading in global markets to make better informed trading decisions. Users can choose from two views: Market Open Direction, to display open direction with a confidence indicator and predicted opening move, or Market Direction History, to compare predicted and actual overnight returns for the past ten trading days and relevant FX movements.”

ITG recently reported its trading volumes for the month ending September 2015. This included a volume of 2.6 billion shares during September 2015, which was good for a decline of -7.1% MoM from 2.8 billion shares in August 2015. Moreover, ITG’s average daily volume (ADV) in September 2015 came in at 122 million shares, down -8.9% MoM from 134 million shares in August 2015.

September’s downtrend in volumes represents a consecutive monthly retreat at ITG. The notable decline in volumes as of late is likely tied to ITG’s recent brush with regulatory authorities, which has caused a continual outflow of its existing business. In late July, ITG as well as its affiliate AlterNet Securities, agreed to collectively pay $20.3 million to settle charges over the breach of dark pool trading confidentiality with the US’ Securities and Exchange Commission (SEC).

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