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 Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term broker and financial Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term, 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).
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.
ITG (NYSE:ITG), an independent Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term broker and financial Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term, 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).
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.