The new trading algorithm is available via ITG’s execution management system, Triton, with availability on major third-party front-end systems to follow shortly.

ITG said that the solution empowers traders to execute any North American pair combination, supporting all major pair trade types such as risk (merger) arbitrage, statistical arbitrage, switch trades and cross-border trades.

The initiating and hedging will also be handled automatically using continuous monitoring and signaling produced from individual quote ticks.

Hedge Pro is part of ITG’s suite of algorithms, which aim to reduce market impact, maximize execution quality and improve trading performance across each new market.

ITG head of Liquidity Management Hitesh Mittal said that the Hedge Pro is designed to maximize investment opportunities by evaluating market spreads and reacting to quotes in real time.

“This new capability gives traders the flexibility to employ virtually any pair trading strategy in the US and Canadian markets,” Mittal said.