Independent execution broker and financial technology provider ITG (NYSE:ITG) has released its trading volumes for September 2017. The numbers show a slight decrease in the overall volume when compared to the August but a good improvement for its daily average trading volume (ADV).
The total volume of shares traded in September 2017 was 2.6 billion, which is slightly less than the 2.7 billion shares traded in August 2017 and the 2.7 billion shares traded in September 2016.
It should be noted however that September 2017 had only 20 trading days while August 2017 had 23. Thus September’s ADV was 130 million shares, which was 11.11 percent more than that of August 2017. This was also 1.5 percent more than the ADV in September of last year.
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ITG’s POSIT, an indications matching network, had an average volume of 53.6 million shares in September, a 1.9 percent improvement month-on-month. But this was 10.1 percent drop from the year to date volume for 2017.
As far as international trading activity in ITG’s Canadian, European and Asian businesses is concerned, the company reported that commissions were 2 percent higher for September than in the previous quarter.
Overall, the company has presented some strong trading volumes for September 2017 as compared to the previous month which augurs well for the coming months. This also reflects the fact that volatility has picked up in the markets over the last month, which has increased trading activity.