ITG’s POSIT suite – first launched in 1987 – provides anonymous matching of non-displayed equity orders to minimise market impact and provide opportunities for price improvement within the best bid and offer.
POSIT is accessed by hundreds of clients a day from all regions. Matching rates are wholly dependent on the client and types of flow they enter into the pool. It is suitable for all types of order flow including Algorithmic and Block Trades.
Functionality and order types
POSIT supports Market, Limit, Closing, VWAP and
Self Match orders.
Access and participation
The pool is open to buy and sell side regulated
institutions, approved by ITG compliance. Clients can access POSIT electronically
through FIX, ITG front-end trading system Triton, POSIT Alert or via its
high-touch research sales and trading team.
POSIT primarily supports equities and covers
markets in the US, Canada, Europe and Asia. Other instruments covered include;
closed-ended funds, depository receipts, exchange traded funds & REITS.
To help avoid gaming, a POSIT client can have a
minimum value size applied to orders. ITG also provides further safeguards when
using its algorithms, which have in built anti-gaming logic.
ITG intends to add new markets for POSIT in 2014.