POSIT Trades Record-breaking 59.9 Million Shares In Single Day
NEW YORK, Jul 19, 1999 (BUSINESS WIRE via COMTEX) -- Investment Technology Group, Inc. today announced that its POSIT(1) electronic stock crossing system executed 59.9 million shares last Thursday. This surpasses POSIT's last record trading day, June 24, when institutional investors and broker/dealers traded more than 49 million shares in POSIT.
Raymond L. Killian, Jr., chairman, president and chief executive officer, said: "With today's technology, information reaches the marketplace with extraordinary speed. This creates a need for investors to trade their positions quickly and confidentially. POSIT offers this environment."
POSIT, the world's largest intra-day trade matching system, is widely known in institutional trading circles. POSIT allows pension funds, money management firms and others to cross stocks electronically and confidentially with virtually no market impact and at low commission rates.
Through its wholly owned broker/dealer subsidiary, ITG Inc., Investment Technology Group, Inc. (NYSE: ITG) is the leading provider of technology-based equity trading services and transaction research to institutional investors and brokers. ITG's services help clients to access liquidity, execute trades more efficiently and make better trading decisions. ITG's website is located athttp://www.itginc.com.
(1) POSIT is a registered service mark of the POSIT Joint Venture.
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: Schofield & Co. ITG Inc.
Liz Pease John R. MacDonald
617-428-0680 212-444-6252
WEB PAGE: businesswire.com
GEOGRAPHY: NEW YORK
INDUSTRY CODE: BANKING
COMED
INTERACTIVE/MULTIMEDIA/INTERNET
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