ITG extends POSIT to new markets in EMEA*
Investment Technology Group (NYSE: ITG), a leading agency broker and financial technology firm, has extended the reach of POSIT® to cover equities from the Czech Republic, Hungary and South Africa, as well as the International Order Book (IOB) - the London Stock Exchange’s market for liquid emerging markets’ stocks. This brings the number of stocks covered by POSIT to over 14,000.
The expansion of POSIT comes one year after the launch of POSIT Alert™ which notifies users to trading opportunities. POSIT is an independent dark pool with diverse, high quality liquidity and is Europe’s longest running crossing system. It provides participants with opportunities to match equity orders at the mid-point price of the spread of the stock with complete confidentiality, anonymity and minimal market impact. The suite includes POSIT Alert™, POSIT Now™ (continuous crossing) and POSIT Match™ (scheduled crossing). Since the introduction of MiFID in November 2007, POSIT is categorised as a multilateral trading facility.
In addition to the inclusion of stocks from the Czech Republic, Hungary and South Africa, access to the IOB boosts POSIT’s coverage by a further 37 countries, including Poland, Russia and Turkey.
Commenting, David Stevens, CEO of ITG in Europe, said: “We have always been sensitive to our clients’ needs. This expansion is in direct response to increased interest in emerging markets and requests to expand POSIT’s geographic scope so that traders can access our substantial pool of liquidity. During 2009, we will be adding additional markets and more functionality to meet the needs of our clients.”
POSIT can be accessed from the ITG Dark Algorithm® and a number of ITG front ends, such as the Triton® execution management system and ITG Channel™, as well as FIX and directly from users’ own order management systems.
*Europe, Middle East and Africa
For more information call Belinda Keheyan on tel: 0207 670 4000.
ITG® is a global brand that, in Europe, refers to Investment Technology Group Limited, registered in Ireland No. 283940 (“ITGL”) and/or Investment Technology Group Europe Limited, registered in Ireland No. 283939 (“ITGEL”). The registered office of ITGL and ITGEL is Georges Court, 54-62 Townsend Street, Dublin 2, Ireland. ITGL and ITGEL are authorised and regulated by the Irish Financial Regulator. ITGL is a member of the London Stock Exchange, Euronext and Deutsche Börse and operates POSIT®, the multilateral trading facility. ITGEL operates a branch in London, England (No. BR004642) which is registered with the UK Financial Services Authority and a branch in Paris, France (No. 501891477) which is registered with the Banque de France. For further information, please visit www.itg.com 20080123-0002
In addition to historical information, this press release may contain "forward-looking" statements, as defined in the US 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 Annual Report on Form 10-K of Investment Technology Group, Inc. for the fiscal year ended December 31, 2008, and other documents filed with the Securities and Exchange Commission and available on www.itg.com.