We were the first company of our kind to start working with the MTFs last November, and by extending the markets our clients can access even further, better liquidity will result in more competitive pricing when they trade with IG Markets.
(PRWEB) March 10, 2010
IG Markets, the leading Contract for Difference (CFD) provider, has announced that its Smart Order Routing technology will now be extended to incorporate liquidity from BATS Europe, the operator of an innovative and technology-leading European Multilateral Trading Facility (MTF).
Smart Order Routing searches out the best offered price for clients across multiple liquidity venues, something that has become increasingly significant as the traditional execution venues, or primary exchanges, continue to see their market share eroded by the Multilateral Trading Facilities (MTFs). Covering in excess of 1000 European-listed equities, the technology also offers clients the alternative of free price and depth-of-market feeds on the respective stocks, where previously they may have had to pay to receive live exchange data.
Tim Howkins, Chief Executive of IG Group, commented:
’This is another innovation by IG Group to ensure we continue to build on our position as the worldwide market leader for CFD trading and financial spread betting. We were the first company of our kind to start working with the MTFs last November, and by extending the markets our clients can access even further, better liquidity will result in more competitive pricing when they trade with IG Markets.’
MTFs are seeing rising levels of popularity, with up to 40% of FTSE 100 share transactions now taking place away from the main exchange. Without the ability to interact with these markets, clients are unable to see the whole array of prices on offer, and as such are putting themselves at an immediate disadvantage. In addition to drawing from the lit pools at BATS Europe, Chi-X and Turquoise, IG Group will also feed any orders of size through the dark pools to ensure that clients’ trades are filled at the very best prices available.
IG Markets clients can trade online, over the telephone or via mobile devices such as the iPhone. Furthermore, clients also have access to a comprehensive training and education scheme through its TradeSense programme. This is specifically designed to help those new to trading to understand the financial markets and risk-management tools they have at their disposal.