Posit introduces after-hours equity matching

Posit introduces after-hours equity matching

Investment Technology Group has initiated a daily after-hours cross on the Posit equity matching system in an effort to help users manage portfolio risk.

The system will run once nightly after 6:30pm EST and will use the primary market closing price for listed stocks and SuperMontage closing prices for Nasdaq stocks. All executions will be next day trades.

Robert Russel, chief executive officer of ITG says the service has been introduced in response to client requests. He says: "With the Posit after hours cross, the price is known; therefore, portfolios can be optimised to minimise tracking error, improve sector neutrality and manage dollar or share imbalances."

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