— 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.