ITG, an independent broker-dealer and financial technology provider, announced Broker Block, a new enhancement to aid Posit Alert users looking for block liquidity, will launch in October.
Broker Block offers users block liquidity via anonymous block-crossing opportunities from a select list of institutional brokers, according to Andrew Larkin, head of Posit Alert client coverage at ITG.
The enhancement will initially be made available in the US. Larkin tells WatersTechnology that further expansion will be dictated by client demand and liquidity.
Larkin says ITG is also looking to continue to enhance and refine its PowerScore methodology. PowerScore ranks traders in Posit Alert between 0 and 100 depending on liquidity contribution to the pool, quickness of responses and their ability to firm up an order and in size. Users with ratings 75 or higher are eligible for PowerMatch, which, in the US and Canada, is averaging block trades about twice as big as those in Posit Alert overall, according to the firm.
Jesse Lund talks about real uses for DLT in the capital markets, lessons learned while rolling out IBM's blockchain platform, and what’s ahead for 2018, and into 2019.Subscribe to Weekly Wrap emails