ITS NEWSLETTER - JANUARY 2017

 

ITS Online celebrates 10 years as a Hosted Service Provider!!

 

In 2007, Canada launched its first ATS marketplaces and in that same year, ITS transformed its business to a full hosted service provider launching the first Smart Order Router in the Canadian Marketplace and launching ITS TraderLite workstations.   

 

Capital Markets in Canada have undergone many changes in the last 10 years and ITS Online has kept pace with all of them.    We look forward to our next 10 years providing the best in innovation and service to our customers!   

 

Please stop by to visit us.  ITS will be at the CSTA Vendor Fair

on Thursday, Feb. 23rd, 2017 2:30-7:30 PM at the Design Exchange, Toronto.

 

IN THIS ISSUE   

 

ITS SOR Enhancements

·         Full Sweep Routing

·         Alpha Dark Sweep

·         MatchNow At-the-Touch

·         Sweep Efficiency Report

·         Aequitas PTF Routing

·         Marketplace Changes -

CXD, CX2 & CXC Migration, Omega Migration

 

    Montreal Exchange DropCopy Service

 

 

ITS Workstation Enhancements

·         TraderLite Charting Enhancements

·         SOR Routing Details and Log View

·         SOR Sweep Efficiency View

·         SOR Profile View

·         OrderGuard Order Cancellation

·         OrderGuard Filter by Account Type

 

 

ITS SOR Enhancements - Available for DMA SORs and ITS Workstations

   

Full Sweep Routing with the ITS Advantage

 

The newest ITS SOR supports a Multi-Price spray option (Full Sweep) allowing orders to take out multiple price levels across multiple exchanges with one sweep.      The ITS Advantage?  We switch to iterative spraying after the multi-price level spray to take out any remaining volume allowing customers to maximize opportunities to capture hidden orders and minimize disappearing passive volumes.     

 

Alpha Pre-Sweep, the most effective use of the Speed Bump

The ITS SOR now supports an "Alpha Pre-Sweep", allowing orders to send an initial request to Alpha and then remove Alpha from further smart routing to avoid Alpha's speed bump from adversely affecting fills during smart routing.     The Alpha request is sent as an IOC/FOK order (either the entire order is filled or nothing is filled) in order to minimize information leakage to other participants.

 

Combine the Alpha Pre-Sweep with Full Sweep Routing for maximum flexibility on receiving optimal fills!!

 

MatchNow At-the-Touch

The ITS SOR is fully enabled to take advantage of the MatchNow At-the-Touch capability.  

Sweep Efficiency Reporting

Ever wondered exactly how many fills were received with each spray of our SOR?    We now provide the ability to view a sweep efficiency report for all your orders which can be e-mailed out to you at the end of the day or easily viewed through our ITS Trading or ITS OrderGuard workstation.     Customers using this have been able to tweak their SOR profiles to maximize their sweep efficiency for different routing strategies.

Aequitas PTF Capability

ITS is currently providing the capability to trade Aequitas PTF symbols as an addition to your ITS SOR.    Contact ITS Operations to discuss the options for enabling this capability.

Support for Marketplace Changes

 

ITS SORs are continually being maintained to keep pace with marketplace changes.    We will be notifying our customers via e-mail as the ITS SOR is upgraded to handle the following migrations.

·         ITS SOR capability to access Nasdaq CXD is now available by contacting ITS Operations.

·         ITS SORs will be upgraded for the Nasdaq CX2 & CXC migrations as per the published migration schedule.

·         ITS SORs will be upgraded if necessary to support the migration of the Omega data centre.

 

ITS TraderLite & OrderGuard Workstation Enhancements

 

Charting Enhancements           

ITS TraderLite/TraderLiteGUI Workstations will soon be seeing improvements to its charting capabilities including

·         More user interaction (pan and/or zoom the view) as well as selecting/manipulating layers;

·         Selecting several different time period intervals;

·         Allowing users to define colours to fit their preferences;

·         Drawing tools on the charts;

·         Creating a new legend to view values easier than before;

·         Providing the ability to print a chart.

 

View SOR Routing Details and Logs from the ITS Workstation

ITS Trading and ITS OrderGuard workstations can now view details on how orders were routed directly from their ITS workstations rather than contacting ITS Operations for assistance.    The ITS Workstations can provide a "Order Dump" from any order with details on how the order was routed and filled.   Users can even drill down to the actual FIX messages sent and received as the order was routed.

View SOR Sweep Efficiency

In addition to being able to easily view how an order was routed, users of ITS Trading and ITS OrderGuard workstations can take a quick look at how efficiently the order was routed by viewing the Efficiency Tab.

View ITS SOR Profile

Occasionally our ITS Operations team will receive a request from firms to review their SOR profile so we decided to make it easily accessible to anybody using an ITS Trading or ITS OrderGuard workstation.      Users can now view their routing priorities by order type and how their routing keys are configured.      Contact the ITS Operations team if you would like to know how to access your view of the SOR profile and receive a quick primer on how to interpret what you're seeing.

ITS OrderGuard Workstations - Order Cancellation

ITS OrderGuard Workstations now have the capability to cancel orders sitting on marketplaces using their OrderGuard workstations.    Previously, trading supervisors had to call or e-mail  ITS Operations to cancel orders by their traders but it can all be performed through the ITS OrderGuard administrative workstation.

 

ITS OrderGuard Pre-Trade Risk - set filters by account type

In response to a customer request, ITS OrderGuard pre-trade risk parameters can now be set to be specfic to account type.    Users of the ITS OrderGuard workstation can now view filters set by account type.

Montreal Exchange (ME) Drop Copy Service

 

Montreal Exchange (ME) Drop Copy Service

ITS Online will soon be offering a reporting services as a real-time drop copy format for trades executed on the Montreal Exchange.    This service will be available within the next 30 days.   Please contact ITS Operations for pricing and further information on this service.

 

More Information?

If you are interested in more information about anything in this newsletter, please contact ITS Operations & Support at 416-233-3961 x0 or support@itsys.ca.

Get more information by visiting ITS at the CSTA Vendor Fair

on Thursday, Feb. 23rd, 2017 2:30-7:30 PM at the Design Exchange, Toronto.