ITG Launches Suite of Algorithms in Key European Markets
NEW YORK, July 19, 2010 /PRNewswire via COMTEX/ -- Investment Technology Group, Inc. (NYSE: ITG), a leading agency broker and financial technology firm, today announced the availability of its entire range of European algorithms across three key new geographies - Israel, Hungary and Poland. ITG now offers its suite of algorithms across 21 European markets.
The new markets have been added in response to demand from clients with equity flow into Israel, Hungary and Poland who are developing sophisticated automated trading strategies and searching for innovative trading opportunities. This development coincides with MSCI Barra's announcement that Israel will be re-classified out of its Emerging Market indices and included in the widely followed MSCI World and MSCI EAFE indices.
ITG has tailored its suite of algorithms to reduce market impact, maximize execution quality and improve trading performance across each new market. ITG's suite of algorithms includes Dynamic Implementation Shortfall (IS), an algorithm specifically designed to reduce the risk of trading stock portfolios while providing unparalleled control over portfolio execution.
Rob Boardman, CEO, ITG Europe commented: "ITG is focused on providing specialist, tailored algorithms to the broadest base of geographies globally and we're pleased to have expanded our European offering with the addition of three new markets. We believe stocks listed in these markets will increasingly form part of mainstream global funds managed by institutional investors, rather than be confined to specialist emerging market portfolios."
Investment Technology Group, Inc., is a specialized agency brokerage and financial technology firm that partners with asset managers globally to provide innovative solutions spanning the investment continuum. A leader in electronic trading since launching POSIT in 1987, ITG's integrated approach now includes a range of products from portfolio management and pre-trade analysis to trade execution and post-trade evaluation. Asset managers rely on ITG's independence, experience, and agility to help mitigate risk, improve performance and navigate increasingly complex markets. The firm is headquartered in New York with offices in North America, Europe and the Asia Pacific regions. For more information on ITG, please visit http://www.itg.com/.
In addition to historical information, this press release may contain "forward-looking" statements that reflect management's expectations for the future. A variety of important factors could cause results to differ materially from such statements. These factors are noted throughout ITG's 2009 Annual Report, on its Form 10-K, and on its Form 10-Qs and include, but are not limited to, the actions of both current and potential new competitors, fluctuations in market trading volumes, financial market volatility, changes in commission pricing, potential impairment charges related to goodwill and other long-lived assets, evolving industry regulations, errors or malfunctions in our systems or technology, rapid changes in technology, cash flows into or redemptions from equity funds, effects of inflation, ability to meet liquidity requirements related to the clearing of our customers' trades, customer trading patterns, the success of our products and service offerings, our ability to continue to innovate and meet the demands of our customers for new or enhanced products, our ability to successfully integrate companies we have acquired, changes in tax policy or accounting rules, fluctuations in foreign exchange rates, adverse changes or volatility in interest rates, our ability to attract and retain talented employees, as well as general economic, business, credit and financial market conditions, internationally or nationally. The forward-looking statements included herein represent ITG's views as of the date of this release. ITG undertakes no obligation to revise or update publicly any forward-looking statement for any reason unless required by law.
J.T. Farley, ITG
+1 212 444 6259
Nick Bone, Penrose
+44 207 786 4878
SOURCE Investment Technology Group, Inc.