ITG Europe Marks Five Years Since POSIT® Launch

ITG Europe today celebrates the fifth anniversary of the launch of its POSIT equities crossing system in Europe and highlights the savings clients have achieved by using its product.

At the time ITG Europe first introduced the POSIT intraday equities crossing system to the UK, the company had 40 clients and ran only two matches per day. Since then, ITG Europe has increased its client list more than fivefold and now runs eight matches each day. More significantly, the company has extended the geographic reach of POSIT beyond the UK and now conducts matches in the shares of a further ten European countries. POSIT is by far the largest crossing network in Europe.

ITG Europe said that since launch over 200 clients have matched trades in POSIT and successful orders have topped €75bn. POSIT reduces transaction costs in a number of ways, the most significant of which is zero impact cost as a result of its anonymity and confidentiality. However, its depth of liquidity, competitive commission rates and mid point pricing, where the bid/offer spread is halved, have also contributed greatly in increasing demand for POSIT. ITG Europe's clients have saved over €420m in spreads alone by using POSIT.

Commenting, ITG Europe's CEO Alasdair Haynes, said: "I am very proud that in a relatively short space of time we have made the concept of equities crossing an integral part of the European share trading landscape. We have created an innovative and successful business against a backdrop of tough global trading conditions and now rank among the top UK brokers. The issues we championed from the start such as Best Execution, as opposed to best price, and the importance of transaction costs control are now not only part of the market vocabulary but recognised in new regulation."

In addition to POSIT, ITG Europe offers clients a range of analytical products, which enable investors to measure, predict and control the cost of trading. ITG's Transaction Cost Analysis (TCA™) tool and its pre-trade tool Agency Cost Estimator (ITG ACE™) are market- leading products.

For further information please contact Belinda Keheyan, Head of Corporate Communications (tel) + 44 20 7670 4014

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