Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
NEW YORK, Sept. 21, 2016 -- ITG (NYSE:ITG), a leading independent broker and financial technology provider, today provided an update on its PowerMatch functionality, which provides POSIT Alert’s highest-performing users with notification of larger trading opportunities. PowerMatch is delivering average block sizes of 66,000 shares in the U.S. and 85,000 shares in Canada, about 2x larger than average human trade sizes in POSIT Alert overall. For small-cap names, PowerMatch offered average block sizes equal to 39% of average daily volume (ADV) in the U.S. and 27% of ADV in Canada during the month of August 2016.
PowerMatch notifications are available to all POSIT Alert participants with PowerScores of at least 75 on a scale of 100. All Alert participants are scored on an average of several block crossing participation factors, weighted to reflect relative importance. The highest PowerScores are given to traders who respond quickly, firm up an order, and firm up in size. The PowerScore methodology has been improved based on client feedback collected since the successful launch of PowerMatch in May.
“The PowerScore approach has been a clear success, improving the quality of interactions in POSIT Alert overall and offering PowerMatch opportunities to our best block traders,” said Andrew Larkin, Managing Director in charge of POSIT Alert coverage at ITG.
ITG also announced today that it will be launching new Broker Block functionality in POSIT Alert in October. POSIT Alert participants who choose to enable Broker Block functionality will have the option to trade with sell-side conditional orders, providing the opportunity to source block liquidity from a curated list of institutional brokers. In this fashion, Broker Blocks enhances the significant buy-side block liquidity currently available in POSIT Alert. At launch, Broker Blocks will be available in the U.S.
Commenting on these enhancements, ITG’s Head of Execution Services, Jamie Selway, said, “We are dedicated to providing clients with access to quality block liquidity and to continually improving outcomes for the POSIT Alert community.”
About POSIT Alert
POSIT Alert is an indications system that anonymously delivers institutional block crossing opportunities to a client’s desktop from the uncommitted shares of participating buy-side clients, combined with order flow in POSIT and ITG Algorithms. Available in 36 countries worldwide, POSIT Alert seeks to eliminate time-consuming negotiations, reduce costs, and improve performance, all while maintaining anonymity. For more on POSIT Alert visit http://www.itg.com/product/posit-alert/
About ITG
ITG applies technology and trading expertise to reduce implementation costs, helping clients improve investment performance. An independent broker established in 1987, ITG provides liquidity, execution, analytics and workflow solutions to leading asset management and brokerage firms. Investment Technology Group, Inc. (NYSE:ITG) has offices in Asia Pacific, Europe and North America and offers trading services in more than 50 countries. For more information, please visit www.itg.com.
ITG Media/Investor Contact: J.T. Farley (212) 444-6259 [email protected]
