Significant rise in Continental trades
ITG®, the technology-based equity trading services group, has announced that its European business generated revenues of £12.4 million for the six months ended June 30, 2006. This is 17% ahead of the £10.7 million posted for the same period in 2005 and 20% more than the £10.4 million reported for the trailing half year. These figures represent record levels for ITG in Europe.
ITG, which operates POSIT® – the intraday equities crossing system – and offers a range of transaction analysis tools such as TCA® and ITG Logic™, said its portfolio-trading desk achieved a particularly strong performance and Triton™, its all-in-one multi-user trading system, has continued to attract new users. ITG added that revenues from trading in Continental European equities rose by 73% on the year and by 41% on the previous half.
Commenting, Alasdair Haynes, Chief Executive Officer of ITG in Europe, said:
“I am very pleased to be able to report that the positive momentum we reported at the end of last year has continued into the start of 2006. We have a number of new initiatives in the pipeline for later this year and are confident that the range of products and services we offer to help clients achieve Best Execution is going to become even more important to the industry as compliance with MiFID approaches.”