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ITG Adds Posit Alert To Crossing Suite in Europe

At 07 Mar 2008 12:19:20 in ET-Liquidity Pools, ET-News in Brief, Electronic Trading    Print Article  Email Article   Full content requires subscription 

Investment Technology Group is adding POSIT Alert to its suite of crossing products in Europe. POSIT Alert is a new indications-based facility that seeks out crossing opportunities among participating clients. POSIT Alert is designed to expand available liquidity by alerting clients to crossing opportunities. Traders participating in POSIT Alert select the stocks they want to have available for crossing. POSIT Alert then searches for trading opportunities with other clients that have opted to participate. When the system identifies a match, a pop-up message alerts the trader, who can decide whether to trade and in what quantity. The trade crosses at the midpoint price of the underlying market price and there is no negotiation.

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