UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 


 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): February 8, 2018

 

INVESTMENT TECHNOLOGY GROUP, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-32722

 

95-2848406

(State or Other Jurisdiction
of Incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

One Liberty Plaza, 165 Broadway
New York, New York

 

10006

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:  (212) 588-4000

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

 

 

 



 

Item 8.01 Other Events.

 

On February 8, 2018, Investment Technology Group, Inc. issued a press release announcing trading statistics for the month ended January 31, 2018. A copy of this press release is attached hereto as Exhibit 99.1.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

99.1

 

Press release issued by Investment Technology Group, Inc. on February 8, 2018.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

INVESTMENT TECHNOLOGY GROUP, INC.

 

 

 

 

 

 

By:

/s/ Angelique F.M. DeSanto

 

 

Name:

Angelique F.M. DeSanto

 

 

Title:

Managing Director, General Counsel and Secretary and Duly Authorized Signatory of Registrant

 

Dated:  February 8, 2018

 

3


Exhibit 99.1

 

 

 

ITG Releases January 2018 U.S. Trading Volumes and Provides International Trading Commission Update

Strong International Growth Includes New Global POSIT Alert Record

 

NEW YORK, February 8, 2018 — ITG (NYSE: ITG), a leading independent broker and financial technology provider, today announced that January 2018 U.S. trading volume was 2.8 billion shares and average daily volume (ADV) was 132 million shares, compared to 2.7 billion shares and ADV of 133 million shares in December 2017 and 2.8 billion shares and ADV of 139 million shares in January 2017. There were 21 trading days in January 2018 and 20 trading days in both December 2017 and January 2017.

 

ITG U.S. Trading Activity

 

In addition to overall U.S. trading volumes, ITG also provides a monthly summary of average daily volume (double-counted) and average trade size for the POSIT® crossing network and POSIT Alert.

 

 

 

# of
Trade
Days

 

Total U.S.
Volume

 

Average U.S.
Daily Volume

 

Average
POSIT
Daily
Volume

 

Average
POSIT
Trade
Size

 

Average

POSIT

Alert Daily
Volume

 

POSIT
Alert
Average
Trade Size

 

POSIT Alert
Avg. Trade
Size
Ex-Algos*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 2018

 

21

 

2,779,829,383

 

132,372,828

 

54,424,657

 

295

 

16,608,590

 

23,912

 

37,355

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

YTD 2018

 

21

 

2,779,829,383

 

132,372,828

 

54,424,657

 

295

 

16,608,590

 

23,912

 

37,355

 

 


*Excluding shares crossed through POSIT Alert from ITG algorithms

 

ITG’s average revenue capture per share in January 2018 was in line with the fourth quarter of 2017.

 



 

International Trading Activity

 

The average daily trading commissions in January 2018 in ITG’s Canadian, European and Asia Pacific businesses were up approximately 19% in U.S. dollar terms on a combined basis as compared to the fourth quarter of 2017 and were up approximately 40% as compared to January 2017. On a blended international basis, there were approximately 22 trading days in January 2018, 19 trading days in December 2017 and 21 days in January 2017.

 

ITG set a new monthly record in January 2018 for block value crossed in global POSIT Alert, including new records in Europe and Asia Pacific.

 

These statistics are preliminary and may be revised in subsequent updates and public filings. Volume statistics are posted on the investor relations section of ITG’s website, investor.itg.com and are available via a downloadable spreadsheet file.

 

Accounting Rule Change

 

Beginning in January 2018, ITG implemented a new accounting rule and will be recognizing global commission revenue attributed to Analytics products under bundled arrangements over the course of the annual service period. This change is expected to result in the deferral of approximately $4 million of commission revenue in the first quarter of 2018 and approximately $2 million in the second quarter of 2018. These reductions are expected to be offset by increases to third and fourth quarter 2018 commission revenues of approximately $2 million and $4 million, respectively.

 

About ITG

 

Investment Technology Group (NYSE: ITG) is a global financial technology company that helps leading brokers and asset managers improve returns for investors around the world. We empower traders to reduce the end-to-end cost of implementing investments via liquidity, execution, analytics and workflow technology solutions. ITG has offices in Asia

 



 

Pacific, Europe and North America and offers execution services in more than 50 countries. Please visit www.itg.com for more information.

 

ITG Investor/Media Contact:

J.T. Farley

(212) 444-6259

corpcomm@itg.com

 

###

 


Investor Toolkit