Investment Technology Group, an agency broker and financial technology firm, has introduced the Raider algorithm to its existing ITG Algorithms suite.

The new algorithm captures trading opportunities by adapting to rapid movements in the market. Orders remain completely hidden while the algorithm seizes liquidity in both lit and dark venues simultaneously.

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. Its sole focus is to take favourable liquidity opportunities including access to ITG’s dark liquidity pool Posit.

Rob Boardman, head of electronic trading for ITG in Europe, says: “Raider 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. Raider’s speed and stealth, along with exclusive access to POSIT liquidity, help clients improve their execution performance by swiftly capturing quality liquidity.”

Raider can be accessed from ITG’s execution management system Triton or third-party front ends.