The revamp and restructuring of ITGs staff continues in full force, as the execution broker is now hiring for its Asian RFQ Hub division.
ITG RFQ-hub connects buy-side trading desks and portfolio managers with a network of sell-side market makers to allow them to place requests for quotes in negotiated equity derivatives, futures, options, swaps, convertible bonds, structured products and commodities.
The addition of staff for its multi-asset trading system for over the counter assets comes amid troubles in its U.S. division, where it recently paid a $20 million dollar fine. Building up the RFQ Hub and staff there has been a focus for the firm lately, where it has been adding customers and access to its POSIT dark pool.
ITG hired Jake Tantleff to the Hong Kong RFQ-hub sales team from Bloomberg a few months after Gaye Anable joined the Australian RFQ team.
In a recent article in The Trade, Michael Corcoran, joint chief executive officer of ITG Asia Pacific, said RFQ-hub is a vital part of ITGs growth strategy into derivatives and multi-asset trading in the region.
As transparency and automation of OTC trading becomes a top priority for our institutional clients and the Asia Pacific regulators, our expanding team in Hong Kong and Australia is well positioned to grow the RFQ-hub network with new liquidity providers and asset managers, Corcoran said.
In a statement confirming the changes, ITG said it has added 10 sell side liquidity providers globally over the past year bringing the total number to 44.
The company said it now boasts 50 buy side clients globally for its ITG RFQ product, with the average daily trading now standing at $2.5 billion on the platform.
