ITG Introduces POSIT(R) "Power Match"
NEW YORK--(BUSINESS WIRE)--
Investment Technology Group, Inc. (NYSE: ITG), a leading provider of technology-based trading services and transaction research, today introduced a new POSIT Match(SM) point-in-time cross. The "Power Match" is a new midday crossing session exclusively for block trades over 10,000 shares. The concentrated match represents the next evolution in point-in-time crossing, which ITG introduced over twenty years ago with POSIT Match.
The "Power Match" will take place at 1:00 pm ET daily, and provide clients with concentrated, block liquidity at one of the most illiquid times of the day. Liquidity tends to follow a certain pattern, with more liquidity in the market at the start and close of each trading day, and less liquidity at midday. Visually, this concave line is sometimes referred to as the liquidity "smile."
"For the past 20 years, POSIT has been a leader in providing block liquidity and anonymity to the buyside," said Chris Heckman, Managing Director at ITG. "Clients utilize point-in-time crossing as a key aggregation tool for block liquidity in a fragmented marketplace. The addition of the 'Power Match' to the scheduled cross will provide a concentrated source of liquidity at an illiquid point in the trading day."
Clients trading in POSIT Match have the ability to set portfolio constraints in order to optimize the performance of their portfolio during scheduled matches. POSIT Match is part of the POSIT crossing suite, which also includes POSIT Now(SM), a continuous cross, and POSIT Alert(SM), an indications-based cross. POSIT is accessible through Triton(R), Radical(TM), ITG Channel(TM), Macgregor XIP(TM), or any FIX connection. For more information contact your ITG account manager or email firstname.lastname@example.org.
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, or email email@example.com for specific details on POSIT Power Match.
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, 2007, and other documents filed with the Securities and Exchange Commission and available on the company's web site.
Source: Investment Technology Group, Inc.