ITG (NYSE:ITG), an independent execution broker and research provider, has extended equities trading capabilities to India and Taiwan via its POSIT Alert crossing network utility, according to an ITG statement.
The group’s POSIT Alert India represents a unique collaboration with Indian investment bank and brokerage, ICICI Securities. The POSIT Alert utilizes ITG’s trade matching technology to help execute crosses on the Bombay Stock Exchange (BSE), in an aim to reinforce exchange liquidity. The extension of equities to the region is important as it taps into India’s deep liquidity market.
APAC Markets Continue to Draw Focus
At the present, ITG now offers its POSIT Alert to a total of ten sovereign Asia-Pacific (APAC) markets, which is reflective of its ongoing commitment and subsequent demand for crossing tools in the region – the platform is also available in Brazil, Canada, Mexico and the US. Additionally, the group has undergone several initiatives to capture demand for block size liquidity for institutional investors.
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According to Ofir Gefen, Head of Electronic Brokerage for ITG in Asia-Pacific (APAC), in a recent statement on the launch, “The launches of POSIT trading for India and Taiwan are important milestones in our development of regional electronic trading capabilities. We believe that there is a strong and growing demand for institutional block crossing and we are well positioned to provide solutions to meet this need.”
“POSIT Alert India is a valuable new tool for investors in Indian equities. ICICI Securities is focused on offering a complete bouquet of Electronic Trading Services catering to the entire range of needs of both domestic and FII [Foreign Institutional Investor] clients. The addition of ITG’s POSIT Alert is a significant distinguishing factor that will help us in providing superior services in the Algorithmic Trading/DMA sphere,” added Anup Bagchi, Chief Executive Officer (CEO) of ICICI Securities, in an accompanying statement.
“The launch of POSIT Alert India demonstrates ITG’s long-term commitment to create novel solutions to hard liquidity problems at global scale to benefit our clients. We thank ICICI Securities for its partnership and look forward to continued momentum in the Asia Pacific region,” reiterated ITG’s Head of Electronic Brokerage, Jamie Selway.
Last month, ITG made headlines after it launched Market Compass, a mobile application based on predictive modeling techniques for traders. ITG Market Compass was designed to streamline a variety of tasks for traders and market participants, including market openings, advanced modeling methodologies, and sector-specific forecasting. The offering was also geared primarily for institutional traders, with a specific emphasis on equities and foreign exchange (FX) trading.