AutEx/TradeRoute Live with POSIT; Strategic Alliance Provides Increased Market Liquidity For Both AutEx and POSIT Clients.Business Editors BOSTON--(BUSINESS WIRE)--April 13, 2000 AutEx, a Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings company, and ITG ITG In the Groove ITG Investment Technology Group ITG Information Technology Group ITG International Trumpet Guild ITG Instituut Voor Tropische Geneeskunde (Dutch: Institute of Tropical Medicine; Antwerp, Belgium) Inc. (NYSE NYSE See: New York Stock Exchange : ITG), a NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). broker/dealer, announced today they have established a live link between AutEx/TradeRoute's FIX compliant order routing service and POSIT (Profiles for Open Systems Internetworking Technologies) A set of voluntary standards published by the National Institute of Standards and Technology (NIST) for network equipment purchased by the U.S. government. It is the successor to GOSIP. (R), ITG's electronic equity-matching system. For both AutEx and ITG, this integrated order routing link represents a joint effort to provide the marketplace with better, more efficient trading solutions by linking sources of industry liquidity and providing clients with more efficient access to that liquidity. AutEx/TradeRoute offers a direct FIX channel through which clients can send buy and sell orders into the POSIT electronic equity-matching system. ITG's POSIT system allows users to confidentially find natural buyers and sellers of equity securities during six crossing sessions each market day. During the first quarter of 2000, an average daily volume of 30.1 million shares were executed on POSIT. "An AutEx/POSIT alliance furthers our commitment to be the central aggregator and access point of industry liquidity," stated John Spensieri, Vice President for AutEx. "Our mission is to provide our clients with industry-wide connectivity that enhances and enriches the way they do business." "Our clients look to ITG to provide them with the most efficient ways to access POSIT's substantial pool of liquidity. Alliances with firms such as AutEx provide that important link," commented Mark Wright, Senior Vice President for ITG. Since ITG launched POSIT in 1987, it has grown to become the largest electronic equity matching system in the world, with annual volume of more than six billion shares in 1999. On March 30, 2000, ITG's European affiliate expanded the European version of POSIT to cross equities listed in France, Germany, Spain, Italy, Switzerland, the Netherlands and Belgium, in addition to the UK. About AutEx AutEx, a Thomson Financial company, provides integrated electronic solutions to help traders identify, access and track liquidity in global securities markets. Since 1969, AutEx has maintained its leadership position by providing real-time, mission-critical data, embracing FIX and other industry standards, incorporating market trends (i.e. ATSs/ECNs) and offering superior client support. AutEx helps 3,500 subscribers at 870+ global client firms make informed decisions around the globe. Headquartered in Boston, AutEx has offices in the US, London, Paris, and Frankfurt. For more information, visit us at www.tfautex.com. Thomson Financial is a US$1.2 billion provider of information services See Information Systems. and work solutions to the financial and corporate communities worldwide. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation, a leading e-information and solutions business with annual revenues of more than US$6 billion. The Corporation's common shares are listed on the Toronto and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . For more information on Thomson Financial, visit www.thomsonfinancial.com. About ITG As the leading provider of technology-based equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as services and transaction research to institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. and brokers, ITG generates superior trading results for its clients. ITG's services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. ITG's cutting edge trading tools are easy to use and interface seamlessly with clients' workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. . As an electronic broker, ITG differentiates itself with institutional customers via front-end or desktop services that provide unique content and connectivity. In the electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. marketplace, through its POSIT system, ITG is the premier confidential stock crossing system for the industry. For further information and historical POSIT volumes, please see ITG's website at www.itginc.com. POSIT is a registered service mark of the POSIT Joint Venture. |
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