ITG January 2016 Volumes Rebound After Weak Year End

ITG (NYSE:ITG), an independent Execution broker and financial technology provider, released today its US trading volumes for January 2016. According to ITG’s data, last month saw a strong rebound after consecutive declines.

Total trading volumes stood at 3 billion shares and ADV (average daily volume) was 159 million shares. ITG showed an increase in MoM volumes, from a total monthly volume of 2.8 billion shares and AVD of 129 million shares in December 2015.

However, January 2016 was weaker in volumes YoY. January 2015 saw a record high in trading volumes, reaching a total of 3.6 billion traded shares and ADV climbing to 179 million shares, with 20 trading days compared to 19 in 2016.

In addition, average daily trading commissions in January 2016 in ITG’s Canadian, European and Asia Pacific businesses were up a combined 5% compared to the fourth quarter of 2015.

According to ITG’s Q4 2015 financial report, quarterly profit was almost double when compared to Q4 2014, from $149.0 million to $224.2 million. On the other hand, expenses decreased from $131.2 million in Q4 of 2014 to $119.5 million in Q4 2015.

ITG made headlines recently when it announced the service expansion offered via its RFQ multi-asset platform to the APAC (Asia-Pacific) region. With this move the broker wanted to ramp up its presence with a platform that connects the Buy-Side with the sell-side. That decision is in line with its current strategic plans and it followed the appointment of Jake Tantleff – an ex-Bloomberg sales expert that joined the RFQ team in Hong Kong.