ITG to Expand Posit Alert with Additional Block Liquidity
Broker Block allows Posit Alert users to trade with sell-side conditional orders, sourcing block liquidity from a curated list of institutional brokers.
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.
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