smart order routing | MTFs | DMA

IG Markets’ Smart Order Routing technology finds you better prices on shares CFDs by instantly searching available venues and sending your order to whichever exchange has the optimum price for you at that time.

Improved execution

The technology works on over 600 top UK and European shares and gives you access to the lit and dark pools of liquidity available from Europe’s three leading Multilateral Trading Facilities (MTFs): Chi-X, Turquoise and BATS.

More liquidity means tighter market spreads and increased chances of executing your orders at better prices.

Better prices

When trading using one of our Direct Market Access (DMA) solutions, it’s not just improved liquidity that the MTFs offer – they often provide better prices on shares than the primary exchanges.

Last week (15–19 March 2010) 48% of all DMA trades on client’s accounts had a fill in some part from the MTFs. Executions completed on the MTFs gave an average saving of 4.12 bps over the primary price at the time.

And by accessing the non-displayed liquidity of the MTFs’ dark pools there is even more opportunity for improvements.

14% of all DMA trades on client’s accounts last week (15–19 March 2010) had a fill in some part from the dark pools. Executions completed on the dark pools gave an average saving of 7.87 bps over the primary price at the time.

Previously, MTF lit and dark liquidity was only available to large institutional investors; IG Markets enables all CFD traders to access these new venues through our two DMA trading solutions – PureDMA and L2 Dealer.

Find out more about how DMA trading and MTF access can save you money.