ITG Launches Conditional Orders for POSIT Alert in Asia Pacific
08 Outubro 2018 - 9:01PM
ITG (NYSE:ITG), a leading independent broker and financial
technology provider, today announced the launch of conditional
orders for POSIT Alert® in 12 markets throughout the Asia Pacific
region. This conditional order functionality, the first of its kind
in the region, enables sell-side brokers to indicate electronic
block size liquidity in POSIT Alert, providing a valuable source of
additional liquidity for buyside traders. Alert users who choose
this feature will be alerted to block opportunities when matches
are found. Conditional orders are already available for POSIT Alert
in the U.S. and EMEA. In addition, ITG is raising the minimum
notional order threshold for POSIT Alert trades in Asia Pacific
from $250 thousand to $500 thousand.
The conditional order functionality adds to the significant
buy-side block liquidity currently available in POSIT Alert.
Indicated liquidity averaged up to $19 billion per day in the Asia
Pacific region during the second quarter of 2018, with average
daily turnover up more than 70% over the past year. POSIT Alert
delivers average trade sizes of $1.2 million in Asia Pacific
markets, up 20% from the average trade size in the second quarter
of 2017.
“As institutional investors seek to unbundle execution from
research and focus on improving trading performance, there is a
greater emphasis on trading in larger size,” said Michael Corcoran,
CEO for ITG in Asia Pacific. “Our new conditional order
functionality and higher minimum thresholds enable POSIT Alert
users to access quality block liquidity across the region. POSIT
Alert also gives traders the opportunity to minimize their market
impact, delivering average price improvement of 9 basis points and
trade impact savings of 70 basis points.”1
POSIT Alert MomentumThe new conditional order
functionality boosts the strength of POSIT Alert’s global crossing
capabilities. POSIT Alert is available to buyside traders to
execute in 38 markets worldwide. For more information on ITG’s full
range of global electronic brokerage capabilities, please
contact info@itg.com or call ITG’s Hong Kong electronic
trading desk on +852 2846 3553 or New York trading desk +1 212 444
6100.
About ITGInvestment 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 Media/Investor
Contact:
J.T. Farley+1 212 444 6259corpcomm@itg.com
1 Average price improvement is total spread savings. Average
impact cost savings calculated using ITG’s Agency Cost Estimator
(ACE). Estimates based on 2Q18 POSIT Alert trading.
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