Free Site Registration

POSIT: Building Liquidity With Foreign Partners

Traders Magazine, December 1997

Staff Reports

POSIT, the Portfolio System for Institutional Trading, wanted to hit the international ground running. The electronic auction, run by New York-based ITG, said strong partners in global markets get results, attract major clients and build liquidity.

POSIT was jointly launched in 1987 by the Los Angeles-based third-market broker dealer Jefferies & Company, and BARRA, a California software and investment research firm. Jefferies holds an 80 percent share in ITG. The system, originally only accessible by institutions, came a long way like Instinet crossing single orders or portfolios twice daily. Broker dealers were first allowed to use POSIT in 1995.

Get access to this article and thousands more...

All articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?