Raider offers varying levels of urgency, allowing the trader to choose the precise level of aggression to address any market condition. The algorithm quickly captures attractive spreads and subsequently pulls back when liquidity disappears and the spread widens. Raider is unlike other active or aggressive algorithms that are tied to a benchmark, such as arrival price or volume weighted average price (VWAP). Raiderâs sole focus is to take favourable liquidity opportunities anywhere they are available. This includes unique access to ITGâs dark liquidity pool POSIT.
Commenting, Rob Boardman, Head of Electronic Trading for ITG in Europe, said âRaider is the solution for active traders who are faced with a growing list of challenges such as increased volatility, fragmentation, wider spreads and reduced depth of quote. Raiderâs speed and stealth, along with exclusive access to POSIT liquidity, help clients improve their execution performance by swiftly capturing quality liquidity.â
ITG deploys rigorous anti-gaming logic to ensure that Raider interacts only with the cleanest dark liquidity pools available. This protects against information leakage, and thus potentially negative market impact, while maximising exposure to liquidity opportunities, including blocks.
Raider can be accessed from ITGâs award-winning execution management system Triton or third-party front ends.