Investment Technology Group, Inc., a leading provider of technology-based trading services and transaction research, has announced that its European business generated revenues of £16.2 million for the six months ended June 30, 2007. This is 31% ahead of the £12.4 million posted for the same period in 2006 and 27% more than the £12.8 million reported for the trailing half year. These figures represent record levels for ITG in Europe.
The continued success of Triton® and ITG Algorithms™ as well as the launch of new products such as POSIT Now™ – ITG’s continuous crossing network – in February 2007, helped strengthen the rise in revenue. Furthermore, ITG’s European trading desk also reported record average daily revenues with significant growth in non UK equity trading.
Commenting, David Stevens, Chief Executive Officer of ITG in Europe, said, "I am very pleased the positive momentum we reported at the end of last year has continued into the start of 2007, illustrating the ongoing success of ITG’s business in Europe. ITG has new initiatives and a number of product enhancements in the pipeline for later this year and we are confident that with MiFID only four months away, clients will continue to regard ITG as a partner to help them pursue Best Execution”.
ITG is a specialised agency brokerage and technology firm providing innovative solutions spanning the entire investment process, combining pre-trade analysis, order management, trade execution, and post-trade evaluation to provide clients with continuous improvements in trading and cost efficiency.