ITG, a leading independent execution broker and financial technology provider, announced that ITG RFQ-hub, ITG’s multi-asset system for OTC (over-the-counter) assets, is expanding in Asia Pacific in line with global growth across the platform.
ITG recently hired Jake Tantleff to the Hong Kong RFQ-hub sales team. Jake joins ITG from Bloomberg, bringing experience in selling sales trading applications to the sell-side. This follows the addition of Gaye Anable to the Australia RFQ team earlier this year. Over the past year, ITG RFQ-hub has added 10 sell-side liquidity providers globally, bringing the total to 44. On the buy-side, ITG RFQ-hub now has 50 buyside clients globally, and average daily trading has reached $2.5b on the platform.
ITG RFQ-hub connects buy-side trading desks and portfolio managers with a large network of sell-side market makers (liquidity providers), allowing them to place requests for quotes (RFQs) in negotiated equity derivatives, futures, options, swaps, convertible bonds, structured products and commodities.
Commenting on the developments, Michael Corcoran, joint CEO of ITG Asia Pacific said, "RFQ-hub is a vital part of ITG’s growth strategy into derivatives and multi-asset trading in the region. As transparency and automation of OTC trading becomes a top priority for our institutional clients and the Asia Pacific regulators, our expanding team in Hong Kong and Australia is well positioned to grow the RFQ-hub network with new liquidity providers and asset managers.”