ITG Incurs Double Digit Decline in its April Volumes

ITG's April trading volumes fell by -22.6% MoM, with the Q2 slowdown finally catching up with the venue.

ITG (NYSE:ITG), an independent execution broker and financial technology provider, today disclosed its US trading volumes for April 2016, which was defined by plunging volumes MoM, according to an ITG statement.

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ITG’s total trading volumes came in at just 2.7 billion shares in April 2016, a ways off from 3.5 billion shares back in March 2016, or -22.9% MoM. The performance was largely commensurate with other institutional venues that have experienced a decline in volumes throughout Q2 2016.

ITG

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In addition, ITG’s average daily volume (ADV) justified a figure of 129 million shares in April 2016, down from 159 million shares just one month prior, reflective of a loss of -18.9% MoM – this loss was even more magnified against its 2015 equivalent, having fallen from 184 million shares in ADV during April 2015. The losses in volume also occurred during only 21 trading days in April, compared to 22 in the month prior.

Commissions Cast Ray of Optimism 

Another area of ITG’s latest figures that bears notice is its average daily trading commissions in April 2016 across its Canadian, European and Asia Pacific (APAC) operations. These commissions were up by 1.0% compared to Q1 2016, which is noteworthy given such a rapid pullback in volumes across the board. Glancing at ITG’s year-to-date (YTD) volumes, the broker has already secured 12.6 billion shares, whilst averaging a total of 153.4 million shares in ADV, still above its long-term averages.

Last month, ITG made headlines when it named a senior addition to its executive team, appointing Saro Jahani as its Managing Director and Head of Global Technology Architecture.

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