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ITG's POSIT Launches U.K. Crossing Session

Traders Magazine, November 1998

Staff Reports.

POSIT, the electronic stock- crossing system run by New York's Investment Technology Group, has opened for business directly out of the U.K. matching buyers and sellers of U.K.-listed equities twice daily.

On November 18, the first day of trading, POSIT reported that more than 17 million shares were traded on behalf of roughly 30 customers. The value of the shares was GBP78 million (U.K. pounds). POSIT said each match session had orders with a total value of GBP400.

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