Jefferies & Co.'S ITG To Add Institutional Indications To QUANTEX Routing System

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Jefferies' Investment Technology Group is launching Institutional Indications (II), a service that will allow money managers to query a "black box" storing potential orders for a possible match before an order is routed to the New York Stock Exchange's SuperDot system. The system is aimed at offering institutions a better chance of getting their orders executed.

ITG executives say that live tests of the system should commence this month, when the utility will be offered to three or four users