As we have shown in other posts...ITG bought almost $30 Million In APHA shares Friday...
Could it be linked to this transaction?
(Reuters) - High-speed trading firm Virtu Financial Inc (VIRT.O) is buying independent brokerage Investment Technology Group Inc (ITG) (ITG.N) for about $1 billion, ITG said on Wednesday as Virtu looks to add more big institutional investors.
ITG shareholders will receive $30.30 in cash for each share, representing a premium of 9 percent to the stock’s Tuesday closing price.
The offer also represents a 40 percent premium since reports of a deal first surfaced in October.
Virtu last year bought rival high-frequency trader KCG Holdings Inc, allowing it to execute orders for retail brokerages. (bit.ly/2tikRlz)
Virtu’s shares rose 6.5 pct to $26.24 in premarket trading. Shares of ITG, which on Wednesday also reported a better-than-expected third-quarter profit, were trading flat.
J.P. Morgan was the financial adviser to ITG and Wachtell, Lipton, Rosen & Katz its legal adviser.
Who Is ITG ??
Execution Services includes self-directed trading using algorithms, smart routing and matching through POSIT in cash equities (including single stocks and portfolio lists), futures and options trading and portfolio trading and high-touch trading desks providing execution expertise. Workflow Technology includes trade order and execution management software applications in addition to network connectivity. Analytics includes tools enabling portfolio managers and traders to improve pre-trade, real-time and post-trade execution performance; portfolio construction and optimization decisions, and securities valuation.
The Company's subsidiaries include ITG Inc., AlterNet Securities, Inc. (AlterNet), ITG Derivatives LLC (ITG Derivatives), ITG Canada Corp. (ITG Canada), Investment Technology Group Limited (ITG Europe), ITG Australia Limited (ITG Australia), ITG Hong Kong Limited (ITG Hong Kong), ITG Software Solutions, Inc. and ITG Solutions Network, Inc.
Could it be linked to this transaction?
(Reuters) - High-speed trading firm Virtu Financial Inc (VIRT.O) is buying independent brokerage Investment Technology Group Inc (ITG) (ITG.N) for about $1 billion, ITG said on Wednesday as Virtu looks to add more big institutional investors.
ITG shareholders will receive $30.30 in cash for each share, representing a premium of 9 percent to the stock’s Tuesday closing price.
The offer also represents a 40 percent premium since reports of a deal first surfaced in October.
Virtu last year bought rival high-frequency trader KCG Holdings Inc, allowing it to execute orders for retail brokerages. (bit.ly/2tikRlz)
Virtu’s shares rose 6.5 pct to $26.24 in premarket trading. Shares of ITG, which on Wednesday also reported a better-than-expected third-quarter profit, were trading flat.
J.P. Morgan was the financial adviser to ITG and Wachtell, Lipton, Rosen & Katz its legal adviser.
Who Is ITG ??
Execution Services includes self-directed trading using algorithms, smart routing and matching through POSIT in cash equities (including single stocks and portfolio lists), futures and options trading and portfolio trading and high-touch trading desks providing execution expertise. Workflow Technology includes trade order and execution management software applications in addition to network connectivity. Analytics includes tools enabling portfolio managers and traders to improve pre-trade, real-time and post-trade execution performance; portfolio construction and optimization decisions, and securities valuation.
The Company's subsidiaries include ITG Inc., AlterNet Securities, Inc. (AlterNet), ITG Derivatives LLC (ITG Derivatives), ITG Canada Corp. (ITG Canada), Investment Technology Group Limited (ITG Europe), ITG Australia Limited (ITG Australia), ITG Hong Kong Limited (ITG Hong Kong), ITG Software Solutions, Inc. and ITG Solutions Network, Inc.
Canadian Operations
ITG Canada provides electronic brokerage services, including ITG's algorithms and Smart Order Router, as well as high-touch agency execution, portfolio trading services and commission management services. In addition, ITG Canada provides Triton, Triton Derivatives, connectivity services, Single Ticket Clearing, ITG Opt, ITG Smart Trading Analytics, TCA and Fair Value. ITG Canada also engages in foreign exchange trading to facilitate equity trades by clients in different currencies, as well as other client foreign exchange trades unrelated to equity trades.
European Operations
ITG Europe focuses on trading European, Middle Eastern and African equities, as well as providing ITG's technologies to its clients. ITG Europe provides electronic brokerage services including ITG's algorithms and Smart Order Router, and the POSIT suite, as well as agency execution services, portfolio trading services and commission management services. In Europe, ITG provides Triton, OMS, connectivity services, Single Ticket Clearing, RFQ-hub, TCA, Alpha Capture Reporting, ITG Smart Trading Analytics and Fair Value.
More Info On ITG
More Info On ITG
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