Institutional Block Liquidity Platform Now Available in 7 Asia Pacific Countries and 32 Countries Globally
HONG KONG, March 17, 2014 (GLOBE NEWSWIRE) -- ITG (NYSE:ITG), a leading independent execution and research broker, today announced the addition of trading in Korean equities to the award-winning POSIT® crossing network. ITG now offers POSIT in seven Asia Pacific markets, reflecting the ongoing demand for crossing tools in the region and reinforcing ITG's global commitment to sourcing liquidity for institutional investors. The POSIT suite, including POSIT Marketplace® dark aggregation and the POSIT Alert® block crossing platform, are now available for trading Hong Kong, Australia, Japan, Indonesia, Malaysia, Singapore and Korea as well as 22 EMEA countries, the U.S., Canada and Mexico.
Commenting on the launch, Ofir Gefen, Head of Electronic Brokerage for ITG in Asia Pacific, said, "Korea has been one of the dominant Asia Pacific markets in terms of trading volume in recent years, regularly experiencing the highest average daily turnover of any Asian market except Japan. The demand is therefore high for POSIT, which has a proven track record in helping institutional traders source block liquidity and minimize market impact."
Also commenting on the launch, ITG's Head of Electronic Brokerage and Sales, Jamie Selway, said, "the expansion to Korean equities demonstrates our commitment to the continued global expansion of POSIT Alert, which is a key source of quality block liquidity for institutional investors. We plan to continue rolling out POSIT Alert to additional markets worldwide in 2014 and beyond."
Average daily volumes in POSIT Marketplace across Asia Pacific increased by almost 40% YoY in 2013 and the platform delivered average price improvement of 10 basis points in developed markets and 34 bps in emerging markets during that time.
For more information about accessing POSIT and ITG's full suite of electronic brokerage capabilities, contact email@example.com.
ITG is an independent execution and research broker that partners with global portfolio managers and traders to provide unique data-driven insights throughout the investment process. From investment decision through settlement, ITG helps clients understand market trends, improve performance, mitigate risk and navigate increasingly complex markets. ITG is headquartered in New York with offices in North America, Europe, and Asia Pacific. For more information, please visit www.itg.com.
CONTACT: Media Contacts:
Clare Witts, ITG
+852 2846 3567
J.T. Farley, ITG
+1 212 444 6259
Investment Technology Group Inc.