HONG KONG, May 21, 2013 /PRNewswire/ -- ITG (NYSE: ITG), a leading independent execution and research broker, today announced the addition of Singapore trading to the award-winning POSIT® crossing network. This is the third Asia Pacific market to be added within nine months, reflecting the ongoing demand for crossing tools in Asian markets and reinforcing ITG's global commitment to sourcing quality liquidity for institutional investors. The POSIT suite, including POSIT Marketplace™ dark aggregation and the POSIT Alert® block crossing platform, are now available for trading equities in Hong Kong, Australia, Japan, Indonesia, Malaysia and Singapore as well as 21 EMEA countries, the U.S and Canada.
"The Singapore market can present challenges for institutional traders given the relatively concentrated equity market and high spreads," said Ofir Gefen, Head of Electronic Brokerage for ITG in Asia Pacific. "The launch of POSIT in Singapore generates new opportunities for buyside traders to source block liquidity among their peers. This is more important than ever as we see turnover rising across the region and growing interest in Asian investment both within the region and from international investors."
Also commenting on the launch, ITG's Head of Electronic Brokerage, Jamie Selway, said, "The Singapore launch marks an important milestone in the continued global expansion of POSIT Alert, which is a key source of quality block liquidity for institutional investors. We plan to roll out POSIT Alert to additional markets in Asia Pacific and other regions in 2013."
Asia Pacific volumes executed through POSIT and POSIT Marketplace increased by over 40% in the first quarter of 2013 compared to the fourth quarter of 2012. Year-to-date the platform is delivering average price improvement of 10 basis points in developed markets and 40 bps in emerging markets.
For more information about accessing POSIT and ITG's full suite of global liquidity management capabilities, contact email@example.com.
ITG is an independent execution and research broker 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.
Clare Rowsell, ITG
+852 2846 3567
J.T. Farley, ITG
+1 212 444 6259