ITG announced that it has added Korean equities to its crossing network. It aims to help institutions source block liquidity and minimise market impact.
The company said it delivered an average price improvement of 10 basis points (bps) in developed markets and 34 bps in emerging markets last year.
ITG’s Posit offering includes a dark aggregation facility known as ‘Marketplace’, volumes increased 40% during 2013 in this product, together with a block crossing platform. It is now available for trading in seven Asian countries, Hong Kong, Australia, Japan, Indonesia, Malaysia, Singapore and Korea.
The firm thinks demand will be high for the launch, given trading activity in the Korean markets, ranking it as one of the busiest markets in Asia, behind Japan. It says there are plans afoot to extend Posit Alert’s block crossing capabilities to additional markets worldwide.