ITG Releases Portfolio Trading Algo for Dark Pools

ITG Dark List offers portfolio traders the opportunity to trade in dark pools.

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ITG, which is based in New York, has released a new algorithm specifically for portfolio trading.

Dark List is available on 18 order management systems and execution management systems platforms or through ITG's Portfolio Trading Desk in the US and will be available in Europe in the second half of 2015. Traders can use Dark list as their primary trading tool or as a complement to risk bids or non-discretionary algorithms.

"Portfolio traders are hesitant to leverage the cost-saving potential of dark pools at scale because of concerns about unpredictable execution rates that can create cash imbalances or increase the risk of residuals," says Ben Polidore, head of ITG algorithms. "ITG Dark List is designed to address these issues with its unique approach to statistical cash management and its distinct optimization objectives."

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