ITG’s August Volumes Notch Steady Growth MoM Despite Stagnating Volatility

Despite an industry-wide trend of deteriorating volumes in August, ITG managed to secure steady growth in the US.

ITG (NYSE:ITG), an independent execution broker and financial technology provider, has reported its latest batch of volumes, this time for the month ending August 2016. Its latest US trading volumes were characterized by a surge in figures relative to July, according to a recent ITG report.

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ITG’s total trading volumes had previously been in a state of flux over the past few months, having recently undergone a multi-month decline in the aftermath of a turbulent June, dictated by Brexit volatility. During August 2016 however, ITG reported its total volumes at 2.45 billion shares, compared with just 2.25 billion in June 2016 or 8.9% MoM.

This also corresponded to an average daily volume (ADV) of 106.6 million during August 2016, relative to 112.4 million in ADV during July 2016 – this was reflective of a decline of -5.0% MoM, given a differential in trading days from 23 to 20. However, over a yearly timetable, the figures are much lower, constituting a retreat of -20.4% YoY from 134.0 million in August 2015.

During August 2015, ITG’s average daily trading commissions across its Canadian, European, and Asia-Pacific (APAC) businesses were also down approximately -14.0% in US dollar terms on a combined basis, relative to Q2 2016 – this was in line with market activity in those regions, each of which having experienced similar declines in volumes over this period.

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