ITG Reports Weaker Numbers in August MoM

Lower volumes could be due to lesser volatility in the stock markets and a holiday period in August.

Independent execution broker and financial technology provider ITG (NYSE:ITG) has reported its latest tranche of monthly statistics for August 2017. They point to a slight increase in overall volumes but a decrease in the average daily volume (ADV) when compared to the numbers from Jul 2017. But on the other hand, it represents a healthy increase in both trading volume and ADV when compared to the same period last year.

The total volume of shares traded in August was 2.7 billion shares, which was just 3.8 percent more than the 2.6 billion shares traded in July. It also compares favorably year-on-year, displaying an 8 percent rise.

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It has to be noted that August 2017 had 23 trading days while July 2017 had only 20 and the effect of this was seen in the ADV – 117 million shares, a drop of 9.3 percent. But still, this represented an increase of 9.3 percent on a YoY basis.

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ITG’s POSIT Alert, an indications matching network that notifies interested buy-side institutions of a block-size trading opportunity, had an average daily volume of 52.6 million shares in August, -3.3 percent than the volume in July and 11.8 percent less than the year to date volume.

ITG’s Canadian, European and Asia Pacific businesses were also down by 11 percent in dollar terms when compared to the second quarter of 2017.

Overall, the results show most of the trading metrics to be lower when compared to July, which could partly be due to the lack of volatility in the US stock markets and also due to the holiday period in the month of August.

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