POSIT Alert is a global platform for sourcing large blocks of liquidity, which constantly alerts buy side traders to liquidity which matches orders on their trade blotter.
ITG Asia Pacific head of sales and trading Michael Corcoran said Asia Pacific markets pose many liquidity challenges for buyside traders.
"As average order sizes fall and dark pools proliferate in the Asia Pacific region, traders need POSIT Alert to source buyside block liquidity and the POSIT Marketplace dark aggregator to re-assemble block orders from fragmented markets. Building on the success of POSIT Marketplace across the region, POSIT Alert is the natural next step in Asia’s liquidity story," Corcoran added.
According to ITG, Buy side traders utilize POSIT Alert to prevent information outflow on large orders, maximize their chances of finding liquidity and reduce market impact by matching at the midpoint without any negotiation.
The tool has been already successful in North America and Europe and offers 600 million shares of active, global liquidity on a given day in the US, with an average trade size in 2012 of 33,000 shares, compared to approximately 300 shares on US exchanges.
POSIT Alert is now available on ITG’s award-winning Triton execution management system and integrated with ITG Algorithms.
In Canada, POSIT Alert trades on an average nearly 35,000 shares, while in Europe the average trade size in POSIT Alert is 130,000 shares, said the firm.
