Sale will see Tullett take control of ICAP brand with new electronic and post trade business to be branded NEX Group.
ITG agrees sale of research business that will see loss of high-touch jobs.
Job cuts in financial services surge as “Wall Street executives are trying to shrink staffing levels as profits remain under pressure,” says Integrity Research.
Chief executive officer Frank Troise claims ITG’s top 100 global accounts have returned to the business following record SEC fines.
ITG reports a loss of $2.5 million in the first quarter this year, with overall revenues down 17%, as firm battles with former CEO over ‘unfair dismissal’.
Citadel Securities holds top spot for total OTC non-ATS dark trades, 33% higher than second biggest KCG.