Investment Technology Group Preliminary Prospectus Reveals Big Growth, Big Salaries In '93
AUTOMATED TRADING
WHEN Jefferies & Co. parent Jefferies Group Inc. spun off an 18 percent stake in its Investment Technology Group Inc. (ITG) subsidiary last month (IMT, April 1), the parent was forced for the first time to reveal the operating costs and profits of the unit which markets the Posit and Quantex execution systems. According to the initial public offering preliminary prospectus, issued March 28, ITG did exceedingly well in 1993, posting revenues of $50.7 million--up nearly 62 percent over the
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