ITG offers three types of dark pool service. POSIT is ITG’s institutional dark pool used to minimise pre-trade information leakage and offer price improvement. POSIT Marketplace is a dark aggregation algorithm connected to 24 dark pools across the Asia Pacific allows access to multiple sources of dark liquidity from a single source. POSIT Alert is a buyside-to-buyside only block crossing platform for large orders, mid-point cross with no negotiation.
Functionality and order types
The majority of orders within POSIT are crossed at
the mid-point. All POSIT products offer continuous matching, with orders
treated equally and filled on a pro-rated basis according to quantity.
Access and participation
Orders may be submitted directly into POSIT or
POSIT Alert, or accessed via ITG’s trading desks or algorithms. All clients of
the POSIT products are institutional investors; ITG is an agency broker and
does not have any proprietary order flow.
ITG plans to add more Asia Pacific markets and make further enhancements for liquidity filtering. It will also widen access to POSIT Alert through integration with more execution management system platforms to expand the liquidity pool.