Investment Technology Group Appoints Robert Gasser as CEO and President

New York, NY - 18 September 2006

Investment Technology Group, Inc. (NYSE: ITG), a leading provider of technology-based trading services and transaction research, today announced that the Board of Directors appointed Robert Gasser as Chief Executive Officer and President, effective October 4, 2006. Mr. Gasser will also become a member of the Board of Directors. Ray Killian will retire as CEO, but remain at ITG as Chairman of the Board.

Mr. Gasser, 41, was previously CEO at NYFIX, Inc, a provider of global electronic trading solutions. Prior to joining NYFIX, he was CEO of NYFIX Millennium, a subsidiary of NYFIX, Inc. Before NYFIX, Mr. Gasser was Head of U.S. Equity Trading at JP Morgan. Mr. Killian, 69, founded ITG in 1987.

“Since ITG was founded, the firm has continually innovated to stay ahead of changing market conditions,” said Ray Killian, ITG’s Chairman, CEO and President. “ITG has the benefit of being an early entrant in electronic trading, and both the firm and market have come to a crossroads in their evolution. Bob brings the right mix of industry expertise, market insight and client focus to ITG, and I am confident that he will provide excellent leadership to the firm.”

“ITG has long been a pioneer in electronic trading and I am very pleased to be joining the firm at this point in its history,” said Robert Gasser, ITG’s incoming CEO and President. “In this competitive industry, ITG must continue to demonstrate the sophistication and quality of its product offering as well as its ability to keep pace with market trends. I want to ensure that ITG continues to lead the industry with its innovation, client service and comprehensive approach to trading.”

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