ITG November 2015 Volumes Incur Consecutive Monthly Decline

During November 2015, ITG’s US volumes yielded just 2.46 billion shares, falling -8.2% MoM from 2.68 billion shares in October

ITG (NYSE:ITG), an independent execution broker and research provider, has released its US trading volumes for the month ending November 2015, having incurred another consecutive monthly decrease, according to an ITG volumes report.

During the month ending November 2015, ITG’s US volumes yielded just 2.46 billion shares, falling -8.2% MoM from 2.68 billion shares in October 2015 – this corresponded to an average daily volume (ADV) of 123.0 million shares, which was actually higher by 1.0% MoM from 121.9 million shares in ADV in October 2015.

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The reported loss in trading volumes was slightly pared by the trading days, i.e. just 20 days in November 2015, vs. 22 in October 2015, given the observance of the Thanksgiving holiday in the United States. However, when weighted against its 2014 counterpart, ITG’s November figures represent a loss of -27.6% from 3.4 billion shares in November 2014.

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In addition, ITG’s average daily commissions in during August 2015 across its Canadian, European and Asia-Pacific (APAC) businesses were down a collective -3.0% QoQ when weighted against Q3 2015.

According to ITG’s interim CEO Jarrett Lilien in a recent statement on the lackluster metrics, “We continue to make meaningful progress in the customer win-back column, although work remains to bring our trading back to the levels of the first half of 2015.”

ITG recently made headlines after it expanded the services offered via its RFQ multi-asset platform for over-the-counter (OTC) derivatives to the Asia-Pacific (APAC) region. The expansion was in line with the broker’s global footprint growth plans and follows the appointment of former Bloomberg sales ace Jake Tantleff, who will join the RFQ sales team in Hong Kong.

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