Investment Technology Group Reports Fourth Quarter Net Income Growing 34% YoY
- Rising profitability in North America, Europe, Canada and to a lesser extent from Asia- Pacific have been driving ITG’s results higher as the firm reports $559.8 million revenues for the full 2014.
Agency brokerage and financial technology innovator, Investment Technology Group (NYSE:ITG), has just reported its results for the fourth quarter of 2014. In a regulatory filing the firm has revealed that its net income has risen 34% YoY to $13 million, while the company’s revenues rose 12.8%.
The better than expected bottom line result and much higher profitability has driven the shares of Investment Technology Group (NYSE:ITG) up over 3% at the start of New York trading. The firm reported that the net income figure was also impacted by employee termination charges totaling $2.1 million.
Average daily volumes in North America have reached 190 million shares in the U.S. which is higher by 28% when compared to last year. The company’s alternative trading system, POSIT®, has registered an average daily volume of 90 million shares traded which is higher by 43%.
European volumes on Investment Technology Group’s (NYSE:ITG) POSIT® Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term platform have increased by 29% to $946 million.
The annualized return on average equity has increased to 12.5%, compared with 9.3% in the fourth quarter of 2013. While for the full 2014 the return on average equity has increased to 12.2% compared to 7.6% for 2013.
Investment Technology Group (NYSE:ITG) has repurchased $12.0 million worth of shares.
Revenues from U.S. operations were $81.4 million in the fourth quarter of 2014 compared to $75.3 million in the fourth quarter of 2013. ITG's U.S. operations reported net income of $3.0 million in the fourth quarter of 2014, up from $0.5 million in the fourth quarter of 2013.
ITG's Chief Executive Officer and President, Bob Gasser, commented in the announcement, ”In the fourth quarter, our North American results demonstrated the operating Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term we have built into our business as market volumes rebounded. We also saw solid performance in both Europe and Asia-Pacific.”
Agency brokerage and financial technology innovator, Investment Technology Group (NYSE:ITG), has just reported its results for the fourth quarter of 2014. In a regulatory filing the firm has revealed that its net income has risen 34% YoY to $13 million, while the company’s revenues rose 12.8%.
The better than expected bottom line result and much higher profitability has driven the shares of Investment Technology Group (NYSE:ITG) up over 3% at the start of New York trading. The firm reported that the net income figure was also impacted by employee termination charges totaling $2.1 million.
Average daily volumes in North America have reached 190 million shares in the U.S. which is higher by 28% when compared to last year. The company’s alternative trading system, POSIT®, has registered an average daily volume of 90 million shares traded which is higher by 43%.
European volumes on Investment Technology Group’s (NYSE:ITG) POSIT® Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term platform have increased by 29% to $946 million.
The annualized return on average equity has increased to 12.5%, compared with 9.3% in the fourth quarter of 2013. While for the full 2014 the return on average equity has increased to 12.2% compared to 7.6% for 2013.
Investment Technology Group (NYSE:ITG) has repurchased $12.0 million worth of shares.
Revenues from U.S. operations were $81.4 million in the fourth quarter of 2014 compared to $75.3 million in the fourth quarter of 2013. ITG's U.S. operations reported net income of $3.0 million in the fourth quarter of 2014, up from $0.5 million in the fourth quarter of 2013.
ITG's Chief Executive Officer and President, Bob Gasser, commented in the announcement, ”In the fourth quarter, our North American results demonstrated the operating Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term we have built into our business as market volumes rebounded. We also saw solid performance in both Europe and Asia-Pacific.”