ITG's POSIT® Posts Record Trading Volumes
NEW YORK, Aug. 17, 2011 /PRNewswire via COMTEX/ --
Investment Technology Group, Inc. (NYSE: ITG), a leading agency research broker and financial technology firm, today announced that average daily volume (ADV) in its award-winning POSIT crossing network was 144 million shares in the first two weeks of August, a 74% increase over the second quarter of 2011. During this volatile trading period, the POSIT Alert® crossing system continued to provide quality block liquidity to institutional investors.
ITG's infrastructure handled this spike in volume and message traffic rates without any trading outages or enterprise-wide technical failures. At its peak, market data message traffic surged to 25% above previous record levels, or approximately three times normal traffic levels.
"We are pleased with how well our systems performed during this period of tremendous volatility," said ITG's head of US and Latin America, David Stevens. "With careful management of our platform, all of our trading venues remained fully functional. We continue to make the necessary investments in our infrastructure to source quality liquidity and provide best execution to our clients even during periods of market dislocation."
Investment Technology Group, Inc., is an independent agency research broker that partners with asset managers globally to improve performance throughout the investment process. A leader in electronic trading since launching the POSIT® crossing network in 1987, ITG takes a consultative approach in delivering the highest quality institutional liquidity, execution services, analytical tools, and proprietary research insights grounded in data. Asset managers rely on ITG's independence, experience, and intellectual capital 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 region. For more information on ITG, please visit www.itg.com.
ITG Media/Investor Contact:
SOURCE Investment Technology Group, Inc.