— About Itarle

Itarle is an innovative company that is focused on delivering trading efficiencies and transparency to financial markets. Ultimately, these productivity services help to boost investment in companies, reduce and transfer global risk and increase investment returns for all.

Our approach

Historical tick data, low latency data feeds and most importantly, employees who are passionate about solving complex problems, are the essential ingredients to delivering on the Itarle mission.

We enhance these inputs with signal processing, pattern recognition and robust statistical methods to unravel meaningful signals from what is often perceived as market noise.

To remain focused on best execution, each Itarle statistical service is designed with the following in mind:

Unique

Each instrument or security is unique. There is no such thing as an ‘equities algo’ or a ‘financials algo’. The microstructure of all instruments needs to be modeled and captured to deliver best execution.

Patient

A limit order can be considered to be an option on the bid ask spread. We can expire the option immediately by crossing the spread to get an instant fill or we can use Patience (time) to queue in the order book to get a better fill price.

Adaptive

Calibration on historical data is only a starting point. All algos should be able to adapt throughout the trading day in both clock time and tick time (activity) to deliver pro active best execution.

black and white photograph of Dr Paul Lynch

History and timeline

The Itarle Group was formed in 2005 by Dr Paul Lynch who has a rare background in futures floor trading, signal processing and statistical arbitrage.

It was already apparent in 2004 that it would be inefficient for every investment bank and brokerage to have its own best execution algo service. Hence there was a compelling need for an independent algorithmic trading provider for the sell side that did not simultaneously compete for buy side flow.

European cash equities went live 2005 and the scope and coverage has increased ever since. Today, Itarle covers more than 100 global electronic exchanges. New assets, instruments and data centers remain the core of the Itarle investment process. Delivering efficiencies and transparency to new markets provides fresh challenges and helps to keep Itarle a global leader in best execution.

Itarle history timeline: 2023 - New york office. Itarle opens an office in New York to drive client engagement and innovation in the North America markets. 2020 - Global pandemic. The Itarle group is proven to be robust in the global pandemic with maximum uptime, throughput and service levels. 2018 - MIFID 2. MiFID2 is embraced by Itarle as a result of a multi year investment in operational methods, enhanced liquidity capture services and a consistent multi asset approach to transaction cost analysis. 2016 - Hong Kong office. Itarle opens an office in Hong Kong to service the APAC regions and embrace local knowledge and feedback into its global services. 2012 - Global listed deratives. Global listed derivatives go live covering all liquid futures from CME Rough Rice to N225 futures. TCA services are also delivered into listed derivatives to bring transparency and accountability to the execution process. 2007 - Cash equities and smart order routing. Itarle goes live with cash equities in APAC bringing best execution to new users and helping to show how it leads to better execution prices. In Europe, Smart Order Routing services are introduced to facilitate multi venues as a result of MiFID. 2005 - The Itarle group is formed. The Itarle group is formed with a mission to improve execution price performance, increase trading floor productivity and analyse the execution process to provide accountability to the end user. European cash equities go live in July 2005.