ITG’s Volumes Rebound in February 2017 But Average Revenues Fall

ITG said the higher volumes in February originated from lower-rate sell-side clients.

Investment Technology Group (NYSE:ITG), an independent execution broker and financial technology provider, has reported trading metrics across its global business for the month ending February 2017, which saw a steady performance overall, highlighted by a tepid rise in key figures, according to a ITG statement.

During last month, ITG reported its total volumes at 2.92 billion shares, rising by a factor of 5.1 percent month-on-month from 2.78 billion shares in January 2017. The latest figures help pare the recent losses in volumes seen last month at ITG, though the general downtrend in volumes that began in November 2016 has been unable to reverse.

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In addition, the positive trend also extended to ITG’s average daily volume (ADV) of 146.19 million in February 2017, good for a growth of 5.2 percent month-on-month from 138.9 million in ADV during January 2017. The higher volume also occurred during only 19 trading days in February, compared to 20 in the month prior.

During the reported period, ITG’s average daily trading commissions across its Canadian, European and Asia Pacific businesses were up approximately 7 percent in U.S. dollar terms on a combined basis as compared to Q4 2016.

In a different vein, ITG said the higher volumes in February originated from lower-rate sell-side clients, as well as increased trading activity from certain passive/index clients, resulting in a decline in overall average revenue per share as compared to both January 2017 and the fourth quarter of 2016.

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