MATCHNow Launches Conditional Orders in Canada
January 07 2019 - 7:00AM
TriAct Canada Marketplace LP, a subsidiary of ITG Canada
Corporation, today announced the launch of conditional orders in
MATCHNow®, Canada’s premier broker-neutral dark book. This
conditional order functionality enables MATCHNow subscribers to
electronically indicate block size liquidity in MATCHNow, providing
a valuable source of additional liquidity. Conditional orders in
MATCHNow have a minimum size of 51 standard trading units or
C$100,000 notional value, and firmed-up orders are executed in
accordance with existing MATCHNow logic, which includes mid-point
execution on a pro rata basis, with broker preferencing.
“Given the growing complexities in equity execution, there is an
increasing focus on improving overall trading performance, and on
trading in larger sizes,” said Bryan Blake, CEO of TriAct Canada
Marketplace LP. “We are excited to launch an innovative order
type that gives traders the opportunity to seek price improvement
on block-size orders while minimizing market impact.”
About MATCHNowTriAct Canada Marketplace LP, a
subsidiary of ITG Canada Corporation, offers specialized
marketplaces and order execution services for Registered Canadian
Investment Dealers and their clients to trade Canadian listed
equities. TriAct operates MATCHNow, Canada’s premier broker-neutral
dark book, with over 70% share of total Canadian dark trading as of
4Q 2018. Designed to offer better execution for institutional,
proprietary and retail order flow, MATCHNow combines frequent call
matches and continuous execution opportunities in a fully
confidential trading book.
About ITGInvestment Technology Group (NYSE:
ITG) is a global financial technology company that helps leading
brokers and asset managers improve returns for investors around the
world. We empower traders to reduce the end-to-end cost of
implementing investments via liquidity, execution, analytics and
workflow technology solutions. ITG has offices in Asia Pacific,
Europe and North America and offers execution services in more than
50 countries. Please visit www.itg.com for more information.
ITG Media/Investor
Contact:
J.T. Farley+1 212 444 6259corpcomm@itg.com
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