Institutional Block Liquidity Platform Now Available in 10 Asia Pacific Countries and 36 Countries Globally
NEW YORK, Nov. 23, 2015 (GLOBE NEWSWIRE) -- ITG (NYSE:ITG), a leading independent broker and financial technology provider, today announced the addition of trading in India and Taiwan equities to the award-winning POSIT® Alert crossing network. ITG now offers POSIT Alert in ten Asia Pacific markets, reflecting the ongoing demand for crossing tools in the region and reinforcing ITG’s global commitment to high quality, block size liquidity for institutional investors.
In addition to India and Taiwan, the POSIT Alert® block crossing platform is now available for trading Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, Philippines and Singapore as well as 22 EMEA countries, Brazil, Canada, Mexico and the U.S.
Ofir Gefen, Head of Electronic Brokerage for ITG in Asia Pacific, said, “The launches of POSIT trading for India and Taiwan are important milestones in our development of regional electronic trading capabilities. We believe that there is a strong and growing demand for institutional block crossing and we are well positioned to provide solutions to meet this need.”
POSIT Alert India is a collaboration with leading Indian investment bank and brokerage ICICI Securities. It is not a dark pool; it employs ITG’s advanced trade matching technology to execute crosses on the Bombay Stock Exchange, adding to exchange liquidity. “POSIT Alert India is a valuable new tool for investors in Indian equities,” said Anup Bagchi, Chief Executive Officer of ICICI Securities. “ICICI Securities is focused on offering a complete bouquet of Electronic Trading Services catering to the entire range of needs of both domestic and FII [Foreign Institutional Investor] clients. The addition of ITG’s POSIT Alert is a significant distinguishing factor that will help us in providing superior services in the Algorithmic Trading/DMA sphere. ITG’s POSIT Alert offers a cost-effective way to trade block-sized orders while minimizing price impact and increasing overall available liquidity.”
Also commenting, ITG’s Head of Electronic Brokerage, Jamie Selway, said, “The launch of POSIT Alert India demonstrates ITG’s long-term commitment to create novel solutions to hard liquidity problems at global scale to benefit our clients. We thank ICICI Securities for its partnership and look forward to continued momentum in the Asia Pacific region.”
POSIT Alert is a successful tool for buyside traders in 36 countries across the Americas, Europe and the Asia Pacific region, seamlessly connecting the trade blotters of approximately 2000 traders across more than 540 firms. In 2015 year-to-date, POSIT Alert’s crossing network averaged roughly $52 billion in indicated liquidity per day, including $4.5 billion in Asia Pacific, with a global average trade size of $1.3 million. For more information about accessing the full POSIT suite, including POSIT Marketplace® dark aggregation, POSIT Alert, POSIT crossing and ITG’s full range of global electronic brokerage capabilities, please contact firstname.lastname@example.org or call ITG’s New York Trading Desk at +1-212-444-6100.
ITG is an independent broker and financial technology provider that partners with global portfolio managers and traders to provide unique data-driven insights throughout the investment process. From investment decision through settlement, ITG helps clients understand market trends, improve performance, mitigate risk and navigate increasingly complex markets. ITG is headquartered in New York with offices in North America, Europe, and Asia Pacific. For more information, please visit www.itg.com.
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