Triton Launch Helped Fuel Growth
ITGÂ®, the technology-based equity trading services group, has announced that revenues in Europe for the year ended December 31, 2005, were 29% ahead of the previous year. Another highlight of the year was the launch in April of the client site trading system Tritonâ¢ into the European marketplace.
ITG, which operates POSITÂ® â the intraday equities crossing system â and offers a range of transaction analysis tools such as TCAÂ® and ITG Logicâ¢, said revenues in Europe for 2005 were Â£21.1 million, up from Â£16.3 million in the previous 12 months. The portfolio-trading desk achieved a particularly strong performance and Triton, the all-in-one multi-user trading system, has been well received with a number of major users already in place. A record of over 300 clients traded with ITG in Europe in the course of the year.
In line with ITGâs ongoing quest to provide its customers with innovative ways to achieve Best Execution, 2006 will see the introduction of a number of new products and initiatives in the European arena.
Commenting, Alasdair Haynes, Chief Executive Officer of ITG in Europe, said:
â2005 was a milestone year for ITG in Europe. In addition to growing our core trading and analytical business streams, we were able to introduce cutting edge products such as Triton and also our sweep technology tool Channel ITG. It is particularly pleasing that all this was achieved against a background of increasing financial strength, with ITG in Europe posting a profit for each of the last four quarters. I believe our business in Europe is now extremely well positioned for growth and look forward to 2006 with optimism.â