ITG Announces Strategic Investment in Disclosure Insight
NEW YORK, April 29, 2010 /PRNewswire via COMTEX/ --Investment Technology Group, Inc. (NYSE: ITG), a leading agency broker and financial technology firm, today announced a strategic investment in Disclosure Insight, Inc., a provider of independent research and due diligence to the institutional investment community. Disclosure Insight(R) assesses risk at publicly traded companies. Its core product, a D.I. Report(R), saves investors valuable time by summarizing 100 different risk factors found over a 5 year period.
This report includes: undisclosed SEC activity; accounting/auditor problems; unusual capital markets events; and stability of the board and executive suite.
As part of the investment, ITG will be the exclusive distribution channel to large institutional investors for Disclosure Insight research. Disclosure Insight's research content will complement ITG's existing decision support and research tools for institutional investors, including economic forecasts and groundbreaking work on transaction cost analysis and portfolio optimization.
"Our partnership with Disclosure Insight enables us to provide additional value-added content to our clients," said Bob Gasser, CEO and President of ITG. "This unique research offering bolsters ITG's commitment to our clients throughout their investment process, from research and decision support to superior execution and post-trade analytics. Their product is consistent with ITG's historical research focus on providing unique insight grounded in rigorous analysis."
John P. Gavin, CEO of Disclosure Insight, said, "Our partnership with Investment Technology Group, the leading global independent agency broker, gives us everything we wanted in a strategic partner. With ITG we get the capital needed to rapidly expand our library of companies under coverage, the benefit of ITG's deep relationships within the global institutional investment community, and the comfort in knowing our partner is free of the conflicts that can compromise analytical integrity."
For more information about the partnership of ITG and Disclosure Insight and ITG's other research offerings, visit www.itg.com/research.
Investment Technology Group, Inc., is an independent agency broker and financial technology firm that partners with asset managers globally to improve performance throughout the investment process. A leader in electronic trading since launching the POSIT(R) crossing network in 1987, ITG takes a consultative approach in delivering the highest quality institutional liquidity and market-leading execution services, measurement tools, and proprietary 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 http://www.itg.com/.
ITG Contact: J.T. Farley (212) 444-6259
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.
Disclosure Insight(R) and D.I. Report(R) are registered trademarks belonging to Disclosure Insight, Inc. Additional legal and patent notices apply.
SOURCE Investment Technology Group, Inc.