ITG Solutions Network Reaches 5,000 Network Connections on the Macgregor Financial Network
NEW YORK--(BUSINESS WIRE)--Nov. 14, 2006--ITG Solutions Network, a subsidiary of Investment Technology Group, Inc. (NYSE: ITG), today announced that its number of live network connections has passed the 5,000 mark and that the algorithmic trading of over five billion shares has been facilitated through the Macgregor Financial Network (MFN).
The Macgregor Financial Network provides secure, reliable, and fully supported connectivity between buy-side and sell-side clients for the communication of FIX-based orders, executions, and allocations. Macgregor Financial Network provides access to a broad range of pre-trade, trade, and post-trade solutions from a diverse group of service providers, including over 40 custodian banks and SWIFT and Omgeo service bureau access.
"This connectivity milestone exemplifies the commitment of ITG Solutions Network to providing broker neutral solutions that help optimize the investment process," said Ian Domowitz, CEO of ITG Solutions Network. "We continually evolve the Macgregor Financial Network to give our clients broad, global access to a variety of tools and destinations, helping them to make and implement better decisions."
ITG Solutions Network is constantly looking for ways to add functionality and tools that help its customers achieve their investment objectives. The Macgregor Financial Network membership currently consists of over 350 brokers, ATSs, and other liquidity providers, with over 20 percent of the brokers providing European and/or Asian trading capabilities. ITG Solutions Network has also deployed over 275 algorithmic strategy suites on client desktops that provide access to over 225 unique trading strategies through its integration partnerships with brokers. This global reach is a key differentiator for the Macgregor suite of products and has been a driving force behind the addition of approximately 50 new clients since the beginning of 2005.
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. A pioneer in electronic trading, ITG has a unique approach that combines pre-trade analysis, order management, trade execution, and post-trade evaluation to provide clients with continuous improvements in trading and cost efficiency. 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 www.itg.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, 2005, and other documents filed with the Securities and Exchange Commission and available on the company's web site.
CONTACT: Investor and Media Relations:
Alicia Curran, 212-444-6130
SOURCE: Investment Technology Group, Inc.