ITG Posit: Best equities crossing network
With operations in the US, Europe, Asia, and Australia, Posit is the most international crossing network. And the combination of efficient trading and sophisticated pre-trade tools and post-trade analytic software makes it a high-quality platform.
Posit, which is owned by ITG, crosses at fixed times, six times a day to allow liquidity to accumulate. All matches are executed at the mid-point price. But the system is also very flexible, allowing users to place a number of constraints on their orders such as maximum and minimum price levels, and specific share quantities. The system can also be easily used to trade both single stocks and portfolios.
The platform offers trading on over 7,000 stocks, the widest universe available, and anonymity is maintained throughout the settlement process because ITG is the formal counterparty to each transaction. Trades that do not successfully cross can be passed on to ITG's traders who use the firm's sophisticated software tools to work large orders with a minimum cost impact.
Posit can be used solely as a crossing network or in conjunction with ITG's other products and services. ITG offers pre-trade analysis through its Agency Cost Estimator, Ace, which suggests trading strategies for executing large trades without moving the stock price.