Brings Global Block Liquidity Coverage to 27 Markets
ITG (NYSE: ITG), a leading independent execution and research broker, today announced that the award-winning POSIT® crossing network, including POSIT MarketplaceTM dark aggregation and the POSIT Alert® block crossing platform, are now available for trading Indonesian equities.
Following the growth of POSIT Marketplace in Asia Pacific over the past two years and the launch of POSIT Alert in the region earlier this year, the addition of Indonesia continues to expand the scope of ITG’s global liquidity sourcing tools.
Commenting on the launch, Michael Corcoran, Head of Sales and Trading for ITG in Asia Pacific, said: “Institutional demand for liquidity in Asia continues to grow, particularly given the strong investment interest in emerging and growth markets. Effective bid-ask spreads in Indonesia are consistently wide, between 50 and 150 basis points, and finding liquidity in size can be an ongoing challenge. POSIT Marketplace and POSIT Alert bring mid-point crossing and the ability to find block liquidity when trading Indonesian stocks, which can help deliver price improvement and more efficient trading for our clients.”
POSIT’s extensive global coverage includes Japan, Australia, Hong Kong and now Indonesia, as well as 21 EMEA countries, the U.S. and Canada. So far in 2012, POSIT Marketplace is delivering average price improvement of 11 basis points on trading in Asia Pacific. With the launch in Indonesia and an additional market in the region expected before year-end, expansion to new markets continues to be a focus for ITG as part of the ongoing commitment to providing quality global liquidity and improving investment performance for our institutional clients.