ITG(R) Launches Continuous Crossing in Europe.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. Now[TM] Increases Access to Dark Liquidity LONDON -- Investment Technology Group, the 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 group, has announced that it has introduced POSIT Now - the continuous intraday crossing system for equities - into Europe. This will provide users with access to liquidity that is not displayed on order books, known as dark liquidity, and help ensure that trading opportunities are not missed. The system's total anonymity and confidentiality ensure that there is no leakage of information into the market and therefore price impact is minimised. Also, orders are crossed at the midpoint mid·point n. 1. Mathematics The point of a line segment or curvilinear arc that divides it into two parts of the same length. 2. A position midway between two extremes. price of the underlying market, offering a 50% saving on the bid/offer spread. POSIT Now will complement ITG's existing crossing system POSIT Match[TM] - Europe's leading alternative trading system The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. , which offers users a concentrated pool of liquidity in which to match buy and sell orders. POSIT Match crosses equities at specific times - in Europe this is eight times daily within normal market hours. The POSIT[R] universe in Europe comprises some 9000 stocks from 15 countries and connectivity to the system is simple: it can be accessed from a number of 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) front ends, such as the Triton[R] execution management system and Channel ITG[TM], as well as FIX, Bloomberg and directly from users' own order management systems. POSIT is suitable for all types of trades, both in terms of size, sector or style - be it blocks, lists or single stock orders. In order to allow users more control over their trades, a number of constraints can be set against orders, such as price, size, or buy/sell imbalance, and particular time horizons can be specified. POSIT has been running in Europe since 1998 and in the U.S. since 1987. It also offers anonymity and midpoint pricing. The benefits of anonymity are maintained throughout the clearing and settlement process as a result of ITG's agency status. Both versions of POSIT will be available to institutional investors on the buy and sell side. Commenting, Alasdair Haynes, Chief Executive Officer of ITG in Europe, said: "POSIT Now is a natural extension of our crossing business and has been launched expressly in response to client demand. Our clients know that crossing gives them valuable access to liquidity and helps them reduce transaction cost. In other words Adv. 1. in other words - otherwise stated; "in other words, we are broke" put differently they maximise their opportunities to execute business while at the same time minimising risk. POSIT is really an obvious first port of call for traders. Looking ahead, we also expect POSIT to benefit from the implementation of MiFID and its requirement for market participants to investigate all sources of liquidity to ensure Best Execution. I am certain that POSIT Now will soon establish itself as an important source of dark liquidity that can't be ignored." In addition to POSIT, ITG offers a number of trading tools and services ranging from Triton, to algorithmic trading Algorithmic Trading A trading system that utilizes very advanced mathematical models for making transaction decisions in the financial markets. The strict rules built into the model attempt to determine the optimal time for an order to be placed that will cause the least amount of , direct market access and portfolio trading. A suite of transaction analysis tools such as TCA TCA 1. trichloroacetic acid. 2. tricarboxylic acid cycle (Krebs cycle). TCA Tricyclic antidepressant, see there [R] and ITG Logic[TM] also form part of the ITG offering. About ITG([R]) ITG is a global brand that, in Europe, refers to Investment Technology Group Europe Limited ("ITGEL") and/or its parent company, Investment Technology Group Limited ("ITGL"). ITGL and ITGEL are authorised by the Irish Financial Regulator under the Investment Intermediaries Act, 1995 and provide services within other member states under Article 14 of the Investment Services Directive. ITGL is a member of the London Stock Exchange 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. , Deutsche Borse and Euronext and operates POSIT, the Alternative Trading System. ITGEL London Branch is regulated by the Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. for the conduct of investment business in the UK. Website: www.itg.com. |
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