ITG Grows with E-Crossnet Buy
FRONT PAGE: CONNECTIVITY
LONDON--ITG Europe, which operates the equities crossing system dubbed Posit, has signed a letter of intent to acquire its rival, the industry-owned E-Crossnet.
The deal is seen as a strategic move from ITG's perspective, allowing the combined entity to benefit from economies of scale and pooled liquidity.
ITG Europe CEO Alasdair Haynes says that the key to crossing networks is critical mass. "They talk to an area of the market that we haven't been speaking to--directly to pension funds," Haynes
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