19 January 2018
visit www.ebaday.com

ITG launches Posit Marketplace for Australian equity trading

27 October 2010  |  1557 views  |  0 Source: Investment Technology Group

Investment Technology Group (ITG), a leading agency broker and financial technology firm, today launched Posit Marketplace for Australian equity trading.

The first of its kind in Australia, POSIT Marketplace links institutional liquidity from POSIT, ITG's world-leading crossing network, with liquidity from some of the largest broker pools and alternative trading venues in the market. It provides a way for institutional traders to trade more efficiently, cheaply and simply, and is particularly useful as the Australian trading landscape becomes more fragmented.

By uniting liquidity from multiple sources, POSIT Marketplace is designed to reduce the costs of trading and improve efficiency for fund managers and institutional firms. It does so by addressing the three largest cost factors: spreads, market impact and delay costs.1

Commenting on the launch, Michael Corcoran, ITG's Head of Sales and Trading, Asia Pacific said: "Fund managers should be aware that trading costs can make millions of dollars of difference to fund performance and that new tools are available to help manage these costs. As best execution - trading as efficiently as possible - becomes a focus for Australian regulators, fund managers and investors, tools such as POSIT Marketplace will be a vital component of Australian market evolution."

POSIT Marketplace is already available in global markets across the Americas, Europe and Asia. Since its launch in Hong Kong in March this year, the aggregator has delivered an average of 10 basis points saving on each trade crossed.

Corcoran adds: "The Australian trading landscape is undergoing a period of significant change. As new trading venues are introduced, a way to reach them all simply and efficiently needs to develop in parallel. POSIT Marketplace has built a strong global track record of reducing costs and helping institutional traders unite liquidity as markets become more complex. This is important as the Australian market changes, and should ultimately bring benefits to Australian fund managers and the investors whose money they're managing."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.thomsonreuters.infovisit www.ebaday.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
11224 views comments | 32 tweets | 38 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10336 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9941 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9401 views comments | 18 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8490 views comments | 8 tweets | 6 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job