ITG (NYSE:ITG), an independent execution broker and financial technology provider, has reported its latest batch of volumes, this time for the month ending June 2016. Its latest US trading volumes were characterized by a surge in figures relative to May, according to a recent ITG report.
ITG’s total trading volumes had been in free-fall since March, having undergone a four-month ascension – since then however, its volumes have faded in a multi-month decline, which promptly ended in June. During June 2016, ITG reported its total volumes at 3.1 billion shares, notching a strong growth against just 2.6 billion in May 2016 or 19.2% MoM.
FBS Receives Best Forex Broker Europe 2019 Award by The European MagazineGo to article >>
The latest surge constitutes the ‘Brexit effect’, which saw a groundswell of volatility and volumes during the latter stages of June. Given the success of the Brexit leave vote was not priced in, venues and exchanges worldwide saw heightened trading volumes amidst widespread uncertainty.
Furthermore, ITG’s average daily volume (ADV) showed a figure of 141.3 million shares in June 2016, up 14.1% MoM 123.8 million shares just one month prior – this gain was pared when weighed against its 2015 equivalent however, as the latest figures correlated to a YoY decline of -3.4% from 146.3 million shares in ADV during June 2015. June 2016 also featured a total of 22 trading days, relative to 21 in May 2016.