ITG, the execution and research broker, has announced the release of the Switch Trade execution strategy, a new enhancement to the ITG Hedge Pro Algorithm.
Switch Trade allows investors to maintain dollar neutrality when executing a pair trade. The strategy offers intelligent trading tactics, enabling traders to define the sequence and urgency level of trading via a flexible and intuitive interface.
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“Switch Trade allows traders to efficiently exchange one position for another by contemporaneously managing cash and minimizing leg risk,” said Jeff Bacidore, ITG Managing Director and Head of Algorithms. “ITG Hedge Pro Algorithm with Switch Trade provides a powerful tool to achieve best execution for institutional investors confronted with this challenge.”
ITG HedgePro Algorithm with Switch Trade and ITG’s full suite of algorithms are available via ITG’s Triton execution management system and also via FIX connection to ITG from third-party trading systems. ITG HedgePro Algorithm is available in the U.S. and Canada and was recently introduced for the trading of Brazilian and Mexican equities.