Agency broker and trading technology provider ITG has rolled out its popular electronic crossing platform, POSIT Alert, in Asia.
POSIT Alert is now available for Australia, Hong Kong and Japan trading, expanding liquidity for the buy-side in Asia. The global platform sources large blocks of liquidity and actively alerts buy-side traders to liquidity which matches orders on their trade blotter.
Already a successful tool in North America and Europe, POSIT Alert offers 600 million shares of active, global liquidity daily in the US with an average trade size in of 33,000 shares. In Europe, the average trade size in POSIT Alert is 130,000 shares.
“Asia Pacific markets pose many liquidity challenges for buy-side traders. As average order sizes fall and dark pools proliferate in the Asia Pacific region, traders need POSIT Alert to source buy-side block liquidity and the POSIT Marketplace dark aggregator to re-assemble block orders from fragmented markets,” said Michael Corcoran, head of sales and trading for ITG in Asia Pacific. “Building on the success of POSIT Marketplace across the region, POSIT Alert is the natural next step in Asia’s liquidity story.”
POSIT Marketplace is ITG’s dark liquidity aggregation tool that is currently available in Hong Kong, Australia and Japan.
POSIT Alert helps buy-siders prevent information leakage on large orders and maximises their chances of finding liquidity with reduced market impact by matching at the midpoint with no need for negotiation.
“POSIT Alert is truly a leading global source of block liquidity for institutional investors. This Asia Pacific launch underscores our commitment to providing industry-leading tools and expertise to our clients on a global basis,” said Bob Gasser, CEO and president of ITG.
POSIT Alert is now available on ITG’s execution management system and integrated with ITG algorithms.