Investment Technology Group (ITG), an agency broker and financial technology firm, has extended its POSIT non-displayed trading platform to cover equities from Greece and Cyprus.
As a result, POSIT now trades shares directly from 20 countries in the Europe, Middle East and Africa (EMEA) region. The platform also has a connection to the London Stock Exchange’s International Order Book, forged in March, which gives users access to stocks from an additional 30 countries, including Poland, Russia and Turkey. There are now more than 13,000 stocks in the European POSIT universe.
POSIT, which is registered as a multilateral trading facility under MiFID, provides participants with opportunities to match equity orders at the mid-point of a stock’s bid/offer spread. The offering includes the POSIT Alert notifications-based crossing system, the POSIT Now continuous crossing platform and the POSIT Match scheduled crossing service.
“We will continue to expand and augment POSIT in response to our clients’ requests,” said David Stevens, CEO of ITG in Europe, in a statement. “POSIT, and particularly POSIT Alert, are central components in the ITG offering as the need for sourcing liquidity in large size and without causing adverse market impact continues to be a major preoccupation of our buy-side users.”
POSIT can be accessed via ITG’s Dark Algorithm and a number of ITG front ends, such as the Triton execution management system and ITG Channel, as well as FIX and users’ own order management systems.
The 20 countries directly covered by POSIT in EMEA are: Austria, Belgium, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Portugal, South Africa, Spain, Sweden, Switzerland and UK.