Investment Technology Group Introduces Dark Algorithm in Canada
TORONTO, October 11, 2007 - Investment Technology Group, Inc. (NYSE: ITG), a leading provider of technology-based equity trading services and transaction research, today announced that the ITG Dark Algorithm is now available for Canadian equities. The ITG Dark Algorithm provides Canadian dealers and clients trading Canadian stocks with access to Canadian dark liquidity pools and those trading interlisted stocks with access to both US and Canadian dark pools without information leakage.
A client looking to trade large blocks of stock can use the ITG Dark Algorithm to aggregate multiple alternative liquidity destinations in Canada and the US, including MATCH NowSM. Once clients decide which liquidity pools they want to access, the ITG Dark Algorithm will route their orders, maximizing executions at the midpoint or better and simplifying the execution process. In addition, shares sent to the ITG Dark Algorithm are never displayed in the market.
"The introduction of the ITG Dark Algorithm for Canadian equities reflects the ongoing evolution of electronic trading in the Canadian marketplace,” said Nick Thadaney, CEO of ITG Canada Corp. “ITG is focused on providing clients with sophisticated tools to help them navigate the Canadian and US marketplaces seamlessly and trade more efficiently.”
The ITG Dark Algorithm in Canada, like the US version, allows users to dynamically adjust their level of participation, depending on their degree of urgency. In addition, clients can seamlessly route to ITG's POSIT suite in the US.
About Investment Technology Group
Investment Technology Group, Inc. (NYSE:ITG), is a specialized agency brokerage and technology firm that partners with clients globally to provide innovative solutions spanning the entire investment process. ITG partners with clients to maximize investment performance. ITG offers innovative technologies that include pre-trade analytics, portfolio optimization, advanced trade execution technologies and post-trade evaluation services. ITG Canada Corp. is an affiliate of Investment Technology Group, Inc. ITG Canada Corp. is a member of IDA/CIPF. For more information, please visit www.itg.com.
About TriAct Canada Marketplace
TriAct Canada Marketplace LP (member IDA, CIPF) offers specialized marketplaces and order execution services to meet the unique needs of the Canadian securities industry. Operating strictly on a broker-neutral basis, TriAct facilitates the matching of buyers and sellers, never participating on an agency or proprietary basis in any trade. TriAct strives to offer better execution to institutional, proprietary and retail customers alike. MATCH NowSM is a product offering of TriAct Canada Marketplace LP, a wholly-owned subsidiary of Investment Technology Group, Inc. (NYSE:ITG). For more information, please visit www.triactcanada.com.
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, 2006, and other documents filed with the Securities and Exchange Commission and available on the company's web site. I
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