Announcing Channel ITG: Automatic Order Sweep to ITG Liquidity

NEW YORK, NY, November 17, 2004 - ITG, a leading provider of technology-based equity trading services, is introducing Channel ITG™, a powerful, easy-to-use tool that lets users automatically sweep orders from their trading blotters to POSIT®, TriAct(SM), ITG SmartServers® and the ITG Trading Desk. Channel ITG is fully customizable with dynamic filtering, providing complete control over orders with no information leakage.

"POSIT and TriAct are important ITG destinations for finding liquidity with no information leakage," stated Chris Heckman, ITG's Managing Director of Sales Trading. "Providing seamless blotter integration and rapid access through Channel ITG will put these destinations directly into our clients' trading workflow." POSIT is the world's largest equity matching system; TriAct offers anonymous, continuous equity trading with three paths to execution. All orders filled in POSIT and TriAct are executed between the spread.

Channel ITG queries orders in the user's order management system (OMS) any time before POSIT matches or on demand. Channel ITG filters open orders based on the individual user's criteria, and it determines and displays ITG eligible orders. The user can review and adjust the orders, or choose to automatically route them for execution in ITG's unique liquidity destinations. Channel ITG displays order executions in real time, and any residuals can be routed to ITG's SmartServers or Electronic Trading Desk for execution, or returned to the user's OMS.

Channel ITG is currently integrated with the Macgregor XIP 7s Order Management Network™ (OMN™) and Eze Castle's Traders Console version 4.7, and will soon be available with additional commercial and proprietary order management systems.

POSIT is a registered servicemark of the POSIT Joint Venture.

About ITG

ITG is headquartered in New York with offices in Boston, Los Angeles, Dublin, Hong Kong, London, Melbourne, Sydney, Tel Aviv and Toronto. As a leading provider of technology-based equity-trading services and transaction research to institutional investors and brokers, ITG's services help clients to access liquidity, execute trades more efficiently and make better trading decisions. ITG generates superior trading results for its clients through three lines of business. POSIT®, the world's largest equity matching system, allows clients to trade confidentially. The Electronic Trading Desk is recognized as one of the leading program trading operations in the U.S. ITG's leading edge Client Site Trading Products, Radical and Triton, allow users to implement their own trading strategies by providing direct electronic access to most sources of market liquidity. For additional information, visit

In addition to historical information, this press release may contain "forward-looking" statements, as defined in the Private Securities Litigation Reform Act of 1995, that reflect management's expectations for the future. A variety of important factors could cause results to differ materially from such statements. These factors include the company's ability to achieve expected future levels of sales; the actions of both current and potential new competitors; rapid changes in technology; financial market volatility; general economic conditions in the United States and elsewhere; evolving industry regulation; cash flows into or redemption from equity funds; effects of inflation; customer trading patterns; and new products and services. These and other risks are described in greater detail in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003 and other documents filed with the Securities and Exchange Commission and available on the company's web site.

Liz Sendewicz
(212) 444-6130

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