ITG (ITG) a leading independent agency broker, today announced the launch of the next generation of POSIT Alert®.
The new POSIT Alert provides seamless liquidity access across 28 countries in a single application, with improved customization options, enhanced blotter sweep filtering and new hot button capabilities to streamline trading workflow.
POSIT Alert is a premier global platform for sourcing large blocks of liquidity, actively alerting buyside traders to liquidity that matches orders on their trade blotter. Buyside traders use POSIT Alert to prevent information leakage, maximize liquidity and reduce market impact by matching at the midpoint without the need for negotiation. Next-generation POSIT Alert is now integrated with most major third-party trading systems.
"The next generation of POSIT Alert streamlines and globally consolidates our buyside-only block marketplace," said Jamie Selway, ITG Managing Director and Head of Electronic Brokerage. "These enhancements reinforce POSIT Alert's position as a unique resource for institutional investors seeking anonymous access to substantial liquidity."
POSIT Alert currently offers more than 1.1 billion shares of active liquidity on a given day in the US, with an average trade size in 2013 of over 33,000 shares, compared to approximately 300 shares on US exchanges, while average trade value in POSIT Alert in Europe is approximately $1.1 million. Average daily volume crossed in POSIT Alert in the US is up 21% so far in 2013, compared with the same period in 2012, while in Europe, average daily value traded is up more than 88% year-over-year. POSIT Alert has also expanded to the Asia Pacific region, adding block crossing for equities in Hong Kong, Japan, Australia, Indonesia and Malaysia over the past 12 months, with additional markets to follow in 2013.