ITG, an independent execution broker and financial data firm, has launched the ITG Analytics Incubator. The Analytics Incubator is a hub for ITG trading analytics apps, as well as a trading community which ITG hopes will become a center “for the sharing of ideas and collaboration in trading and portfolio analytics.” With the combination of trading tools and the community, ITG believes it will foster interaction between analytic professionals.
Available as a web-based product, the trading apps are also accessible with mobile devices. The trading apps include the ITG Equity Trading Cost Index App, ITG FX Trading Cost Index App, Swing Pricing tool and FX Pre-Trade tool. The FX trading cost tool provides users the ability to research spreads of major currencies based on time of day, order size and where liquidity is being sourced from. As an example, the chart below shows how average spreads rise based on the their size, with a $100,000 order being able to source spreads of the 0.43 pips compared to 3.422 pips for a $75 million trade. The spreads are averages for the ‘Big 3’, EUR/USD, GBP/USD and USD/JPY from the average of 12 dealers and 5 ECNs.
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Ian Domowitz, Managing Director and Head of Analytics at ITG, commented about the launch, “ITG Analytics Incubator is an important step toward the concept of free, open analytics in the industry. We are breaking down the barriers between the public and our analytical innovations. ITG Analytics Incubator is designed to give early access to the ideas and projects currently in development while building a community of users to share and engage with prototype applications, data, and our original content.”