ITG(R) Announces DarkServer(SM) Inside Liquidity Aggregation for All ITG Algorithms(TM)
NEW YORK--(BUSINESS WIRE)--Nov. 28, 2006--Investment Technology Group, Inc. (NYSE: ITG), a leading provider of technology-based trading services and transaction research, today announced DarkServer Inside(TM), a new feature of its algorithmic trading offering. DarkServer Inside provides customers with a way to access the liquidity aggregating features of ITG's DarkServer algorithm in conjunction with all of its existing algorithms.
Previously, customers who wanted to look for liquidity on other venues had to use DarkServer separately from other ITG algorithmic trading strategies. DarkServer Inside allows a customer utilizing any ITG algorithm to use DarkServer simultaneously to aggregate liquidity. The ITG DarkServer aggregates liquidity in the ITG liquidity pools, POSIT Match(TM) and POSIT Now(SM) and in other alternative trading systems (ATSs) and electronic communication networks (ECNs).
"Many of our clients do not want to miss out on dark pool liquidity when using algorithms," said Tony Huck, Managing Director at ITG. "The DarkServer Inside feature provides an efficient way for clients to accomplish two objectives: using an algorithm and simultaneously accessing as much additional natural liquidity as possible."
Today, liquidity is fragmented among many ATSs and ECNs, making block trading difficult. Each ATS and ECN can have differing rules and access mechanisms, causing inconvenience and delay for traders wishing to quickly and efficiently access liquidity. Customers can now decide which algorithm they want to use, which liquidity pools they want to access, and the ITG DarkServer will route their orders, maximizing executions at the midpoint or better. In addition, shares sent to the ITG DarkServer are never displayed in the market.
ITG's comprehensive approach includes tools for pre-trade modeling, automated execution and post-trade performance measurement. All ITG algorithms access the vast, low-cost liquidity available through ITG's POSIT(R) crossing systems.
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: Investment Technology Group, Inc. Alicia Curran, 212-444-6130 SOURCE: Investment Technology Group, Inc.