Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Instagram Outage Disrupts Thousands of U.S. Users 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
LONDON, Sept. 06, 2017 -- ITG (NYSE:ITG), a leading independent broker and financial technology provider, today announced plans to launch POSIT Auction, a new lit segment on the POSIT MTF which will run periodic auctions for matching opportunities submitted to the POSIT Auction order book. As a lit book, POSIT Auction is designed to offer a low-impact approach to finding liquidity.
POSIT Auction will operate with controls to help traders protect themselves during price discovery, including price collars, limit and peg order types. Pre-trade transparency will be limited to indicative price and volume. Auction periods will commence as soon as a matching opportunity is found, and will initially be set to run for a fixed call period of 50 milliseconds plus a random call period of up to 50 milliseconds before the uncross/auction completion.
“With the MiFID II trading caps taking effect in January, there is an intense focus on sourcing high-quality liquidity,” said Duncan Higgins, Head of Electronic Products for ITG in EMEA. “POSIT Auction is designed to provide valuable trading opportunities in circumstances where liquidity is reduced due to the dark trading caps. It will work as an integral part of our POSIT MTF, in addition to our POSIT Alert block crossing network.”
Subject to successful regulatory approval, POSIT Auction is expected to launch in the fourth quarter of 2017. It will be available for the same universe of stocks traded in the POSIT dark segment. It will also operate a post-close trading session.
For more information on ITG’s full range of global electronic brokerage capabilities, please contact [email protected] or call ITG’s London trading desk at +44 207 670 4066 or New York trading desk at +1 212 444 6100.
About ITG
ITG is a global financial technology company that helps leading brokers and asset managers improve returns for investors around the world. We empower traders to reduce the end-to-end cost of implementing investments via liquidity, execution, analytics and workflow technology solutions. Investment Technology Group, Inc. (NYSE:ITG) has offices in Asia Pacific, Europe and North America and offers execution services in more than 50 countries. Please visit www.itg.com for more information.
ITG Media/Investor Contact: J.T. Farley +1 (212) 444-6259 [email protected]
