ITG PLANS CONSOLIDATED TAPE APPROACH TO TRANSACTION COST ANALYSIS

Posted July 7, 2009

LONDON – Agency broker and trading-technologies provider Investment Technology Group (NYSE: ITG) plans to change the basis for its transaction-cost analysis (ITG TCA) to data taken from primary exchanges and the new multi-lateral trading facilities (MTFs) across Europe, employing a “consolidated tape” against which to run post-trade analysis.

“The consequences of market fragmentation for data and its users, were not fully anticipated by the regulators at the time MiFID [the Markets in Financial Instruments Directive] was introduced,” says Michael Sparkes, Managing Consultant, Analytical Business, Europe, ITG. “It has been a problem for our clients and we are pleased to offer a solution. We continue to invest heavily in new analytical processes and methodologies to provide the greatest possible insight into trading efficiency in the increasingly complex market landscape.”

In addition to ITG TCA, consolidated data will be used in other ITG products such as ITG Alpha Capture, Radical and the Triton execution management system. ITG TCA clients will be able to view the results of trades in any time horizon, in any currency and in any configuration.