Source: ITG
ITG (NYSE:ITG), a leading independent agency broker and financial technology provider, today announced the addition of trading in New Zealand equities to the POSIT and POSIT Alert crossing platforms.
New Zealand marks the 12th country in the Asia Pacific region and the 38th country globally where POSIT Alert block crossing is available.
“The addition of New Zealand to our Asia Pacific market coverage makes POSIT Alert’s liquidity offerings even stronger,” said Michael Corcoran, CEO for ITG in Asia Pacific. “Alert is a valuable source of quality block liquidity for institutional traders, reducing average trade impact in Asia Pacific by more than 45 basis points and delivering average price improvement of 9 basis points,” he added.
POSIT Alert provides block crossing opportunities for equities in 38 countries across the Americas, Europe and the Asia Pacific region, seamlessly connecting the trade blotters of more than 2000 traders. In the first quarter of 2018, POSIT Alert averaged more than $90 billion in indicated global liquidity per day, including more than $12 billion in Asia Pacific, with average Asia Pacific crossing sizes of $1.2 million.