ITG January 2016 Volumes Rebound After Weak Year End

Total monthly trading volumes and ADV increased, however, January was weaker year on year.

ITG (NYSE:ITG), an independent execution broker and financial technology provider, released today its US trading volumes for January 2016. According to ITG’s data, last month saw a strong rebound after consecutive declines.

Total trading volumes stood at 3 billion shares and ADV (average daily volume) was 159 million shares. ITG showed an increase in MoM volumes, from a total monthly volume of 2.8 billion shares and AVD of 129 million shares in December 2015.

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However, January 2016 was weaker in volumes YoY. January 2015 saw a record high in trading volumes, reaching a total of 3.6 billion traded shares and ADV climbing to 179 million shares, with 20 trading days compared to 19 in 2016.

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In addition, average daily trading commissions in January 2016 in ITG’s Canadian, European and Asia Pacific businesses were up a combined 5% compared to the fourth quarter of 2015.

According to ITG’s Q4 2015 financial report, quarterly profit was almost double when compared to Q4 2014, from $149.0 million to $224.2 million. On the other hand, expenses decreased from $131.2 million in Q4 of 2014 to $119.5 million in Q4 2015.

ITG made headlines recently when it announced the service expansion offered via its RFQ multi-asset platform to the APAC (Asia-Pacific) region. With this move the broker wanted to ramp up its presence with a platform that connects the buy-side with the sell-side. That decision is in line with its current strategic plans and it followed the appointment of Jake Tantleff – an ex-Bloomberg sales expert that joined the RFQ team in Hong Kong.

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