ITG (NYSE:ITG), an independent execution broker and financial technology provider, has reported its monthly statistics for May 2018. The figures reflect a strong bounce off a lackluster month prior, with several market drivers helping kindle an increase in trading volumes.
May 2018 was characterized by a more active market – with risk factors and jitters in abundance across both the US and Europe, trading volumes rose on a monthly basis, paring last month’s decline. In particular, concerns over trade wars caused market fluctuations during the month, which ultimately gave way to select markets reaching all-time highs by the end of the month.
Looking at May 2018, ITG reported its total volumes at 2.7 billion shares, compared with 2.50 billion in April 2018, or 8 percent higher on a month-over-month basis – this ascension was lower than most institutional venues, though generally in line with an upward trend for the month that saw a rebound off of April lows. ITG was no exception, seeing a substantial bounce off of April, which corresponded to its 2018 lows.
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The group’s average daily volume (ADV) also came in at 124 million shares in May 2018, relative to an ADV of 117 million shares in April 2018, or 6 percent higher month-over-month.
May 2018 also featured the continuation of a high percentage of volume from lower-rate sell-side clients, which kept the average revenue per share in line with the average in the first quarter of 2018.
Finally, during May 2018, ITG’s average daily trading commissions across its Canadian, European, and Asia-Pacific (APAC) businesses were down approximately 3.0 percent in US dollar terms on a combined basis, relative to Q1 2018. On a year-over-year basis, the figure was up roughly 19 percent as compared to May 2017.