ITG crossing network reaches into new markets

Agency broker and technology provider ITG said its POSIT crossing network can execute trades in equities from the Czech Republic, Hungary and South Africa.
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Agency broker and technology provider ITG said its POSIT crossing network can execute trades in equities from the Czech Republic, Hungary and South Africa. POSIT also now covers the London Stock Exchange’s International Order Book (IOB), which includes stocks from 37 markets, including Poland, Russia and Turkey. This brings the total number of stocks covered by POSIT to more than 14,000.

POSIT matches clients’ equity orders at the mid-point price of the spread of the stock. Users have the option of crossing continuously (via POSIT Now) or at fixed times during the trading day (POSIT Match). POSIT is a registered multilateral trading facility under MiFID.

“This expansion is in direct response to increased interest in emerging markets and requests to expand POSIT’s geographic scope so that traders can access our substantial pool of liquidity,” said David Stevens, CEO of ITG Europe. “During 2009, we add additional markets and more functionality to meet the needs of our clients.”

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