ITG Expands Crossing Network to Indonesia
Research broker ITG, headquartered in New York, has expanded its Posit crossing network to include Indonesian equities.
ITG hopes to use the network, which contains dark aggregation capabilities and a block crossing platform, to expand the scope of its global liquidity sourcing tools.
"Institutional demand for liquidity in Asia continues to grow, particularly given the strong investment interest in emerging and growth markets," says Michael Corcoran, head of sales and trading for ITG in Asia-Pacific. "Effective bid-ask spreads in Indonesia are consistently wide, between 50 and 150 basis points, and finding liquidity in size can be an ongoing challenge. Posit Marketplace and Posit Alert bring mid-point crossing and the ability to find block liquidity when trading Indonesian stocks, which can help deliver price improvement and more efficient trading for our clients."
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