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ITG Eyes Savings From POSIT Deal

Traders Magazine, December 2004

Gregory Bresiger

Investment Technology Group (ITG) will soon be the sole owner of the POSIT joint venture, a large equity crossing system. This is an acquisition that ITG officials say will provide new savings and growth opportunities. "This was the right time to do this. We can now act unilaterally. We can be more nimble," Ray Killian, ITG chairman and CEO, told Traders Magazine. ITG bought out the remaining 50 percent stake in POSIT from BARRA, a subsidiary of Morgan Stanley Capital International, for $90 million plus contingency payments.

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