ITG's Lawyer Answers The Canadian Call

AUTOMATED TRADING

Following is an excerpt from a letter to Investment Management Technology from James Lynch, general counsel from ITG. The letter responds to a story in IMT's June 21. Headlined "Canadian Crossing Net Eyed for Web; Jefferies Has Stake," the story discussed the planned launch of an equity crossing network for Canada.

Lynch writes: "ITG Inc. as the operator of Posit (an intraday equity stock crossing system), would like to clarify that certain statements in the article that are attributed to Joh