POSIT is an independent dark pool with diverse, high quality liquidity and is Europeâs longest running crossing system. It provides participants with opportunities to match equity orders at the mid-point price of the spread of the stock with complete confidentiality, anonymity and minimal market impact. The suite includes POSIT Alert (notifications-based crossing), POSIT Now (continuous crossing) and POSIT Match (scheduled crossing). Since the introduction of MiFID in November 2007, POSIT is categorised as a multilateral trading facility.
Commenting, David Stevens, CEO of ITG in Europe, said:
âTodayâs announcement is in line with my comments in March, that we will continue to expand and augment POSIT in response to our clientsâ requests. POSIT, and particularly POSIT Alert, are central components in the ITG offering as the need for sourcing liquidity in large size and without causing adverse market impact continues to be a major preoccupation of our buy-side users.â
POSIT can be accessed from the ITG Dark Algorithm and a number of ITG front ends, such as the Triton execution management system and ITG Channel, as well as FIX and directly from usersâ own order management systems.
The 20 countries directly covered by POSIT in EMEA are: Austria, Belgium, Cyprus, Czech Rep., Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Portugal, South Africa, Spain, Sweden, Switzerland and UK.