ITG Secures Healthy Volumes Increase in March, Bucking Industry Trend

Total volumes ticked higher in March at ITG, despite a slight decline in ADV.

ITG (NYSE:ITG), an independent execution broker and financial technology provider, reported its US trading volumes for the month ending March 2016, which included an uptick in its total volumes amidst a YTD uptick, according to an ITG statement.

ITG’s total trading volumes stood at 3.5 billion shares and with its average daily volume (ADV) registering 159 million shares for March 2016. This was reflective of a MoM increase volumes, correlating to a rise of 4.4% from 3.4 billion shares set back in February 2016. ADV did decline from 167.5 million shares in March 2016, or -5.1% MoM from February though this was more due to the increase in trading days (22 days in March vs. 20 in the month prior).

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In addition, average daily trading commissions in March 2016 across ITG’s Canadian, European and Asia Pacific (APAC) businesses were up by a combined 18.0% compared to Q4 2015, indicating a general strength across the entirety of its business. This is a trend that has not been shared by other institutional venues in the industry, many of which have seen a marked decline throughout the duration of Q1 2016.

Looking at ITG’s year-to-date (YTD) volumes, the broker has already yielded 9.8 billion shares, averaging a total of 161.8 million shares in ADV, which is above its long-term averages. It will be worth watching whether this strength increases or returns to more usual levels heading into Q2 2016.

ITG made headlines recently when it appointed Thomas D. Shpetner as its newest Global Chief Compliance Officer – he will step into his role only on April 12, 2016, following a five year stint at RBC Capital Markets.

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