ITG Deploys Aleri in Infrastructure Revamp

Agency brokerage and financial technology provider Investment Technology Group is upgrading its global market data infrastructure, and as part of that venture recently rolled out complex event processing vendor Aleri's Market Liquidity Analysis engine to provide a centralized platform for consolidating disparate datafeeds from multiple exchanges, officials say.

While ITG has been able to meet the data needs of its own traders and external clients thus far, the firm expects demand for greater scalability of its market data infrastructure to increase further, and is upgrading its enterprise-wide data infrastructure to meet anticipated capacity, latency and content needs.

A key component of this project includes deploying Aleri's MLA engine across its European business, to make it easier for ITG to consolidate data from pan-European multilateral trading facilities such as Chi-X, Turquoise and BATS Europe, says David Meitz, managing director and chief technology officer at ITG. The firm also plans to roll out the MLA engine as a core part of its overall global infrastructure to provide consolidated order books of data from multiple exchanges and markets in different regions around the world, Meitz adds.

ITG sources its data via a mix of direct connections and consolidated feeds from an unnamed data vendor. The price and volume data captured by the MLA engine is being accessed by ITG's own traders as well as by clients that utilize its exchange memberships for direct market access trading, while ITG also incorporates data processed by the MLA engine into its proprietary analytics. The firm currently uses the MLA engine to consolidate Level 1 data, but plans to extend it to capture Level 2 data from exchanges and trading venues in future, Meitz says...