ITG’s April Turnover Incurs Monthly Decline, Sapped by Lower Volatility
- Volumes were on par with the rest of the industry at ITG in April, incurring a MoM decline.
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 broker and financial technology provider, has released its monthly statistics for April 2017, which incurred a decline in figures. A dual effect of lower Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders and a reduced trading schedule contributed to lower volumes on a month-over-month basis.
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Looking at April 2017, ITG reported its total volumes at 2.4 billion shares, compared with 3.65 billion in March 2017 or -34.2 percent lower on a month-over-month basis – this decline was on par with other institutional venues, which saw a widespread withering of volumes and turnover relative to the month prior.
This was also a return of ITG’s declining volumes in Q1, which apart from March 2017 has steadily declined year-to-date. The group’s average daily volume (ADV) also came in at 126.7 million in April 2017, relative to 158.9 million in ADV during March 2017, or -20.3 percent lower month-over-month. The amount of trading days in April was 19, less than the 21 days in March 2017.
During April 2017, ITG’s average daily trading commissions across its Canadian, European, and Asia-Pacific (APAC) businesses were up approximately 5.0 percent in US dollar terms on a combined basis, relative to Q1 2017.
Last week, ITG made headlines after it released its Q1 2017 operating figures, which disclosed a GAAP net income of $5.3 million, or $0.16 per diluted share. This was significantly higher when measured against Q1 2016, as the group had reported a GAAP net loss of -$2.5 million, or $0.08 per diluted share. The latest quarter was noticeably more upbeat given the absence of an arbitration settlement and pre-tax charge of $2.8 million seen last year.
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 broker and financial technology provider, has released its monthly statistics for April 2017, which incurred a decline in figures. A dual effect of lower Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders and a reduced trading schedule contributed to lower volumes on a month-over-month basis.
The London Summit 2017 is coming, get involved!
Looking at April 2017, ITG reported its total volumes at 2.4 billion shares, compared with 3.65 billion in March 2017 or -34.2 percent lower on a month-over-month basis – this decline was on par with other institutional venues, which saw a widespread withering of volumes and turnover relative to the month prior.
This was also a return of ITG’s declining volumes in Q1, which apart from March 2017 has steadily declined year-to-date. The group’s average daily volume (ADV) also came in at 126.7 million in April 2017, relative to 158.9 million in ADV during March 2017, or -20.3 percent lower month-over-month. The amount of trading days in April was 19, less than the 21 days in March 2017.
During April 2017, ITG’s average daily trading commissions across its Canadian, European, and Asia-Pacific (APAC) businesses were up approximately 5.0 percent in US dollar terms on a combined basis, relative to Q1 2017.
Last week, ITG made headlines after it released its Q1 2017 operating figures, which disclosed a GAAP net income of $5.3 million, or $0.16 per diluted share. This was significantly higher when measured against Q1 2016, as the group had reported a GAAP net loss of -$2.5 million, or $0.08 per diluted share. The latest quarter was noticeably more upbeat given the absence of an arbitration settlement and pre-tax charge of $2.8 million seen last year.