NEW YORK, Sept. 6, 2002 (PRIMEZONE) -- Investment Technology Group, Inc. ("ITG") (NYSE:ITG), a leading provider of equity-based trading services and transaction analytics, today announced that due to delayed market openings on September 11, 2002, it will modify the POSIT match schedule and the starting time for TriAct(tm). The modified match schedule for POSIT will be 11:10 AM, 11:30 AM, 12:00 PM, 1:00 PM, 2:00 PM and 3:00 PM. TriAct will operate from 11:00 AM to 4:00 PM. All times are Eastern Daylight time.
On September 12, 2002, POSIT will resume its eight regularly scheduled matches at 9:40 AM, 10:00 AM, 10:30 AM, 11:00 AM, 12:00 PM, 1:00 PM, 2:00 PM and 3:00 PM. TriAct will resume is regular schedule operating from 9:30 AM to 4:00 PM.
TriAct is a continuous, zero information trading environment, in which standing portfolio and single stock orders are executed against each other, as well as against a continuous flow of market and marketable limit orders. Transactions are executed within the bid/offer spread. POSIT is an anonymous, electronic equity matching system that concentrates liquidity at eight specific times during the trading day. Orders are matched at the mid-point of the bid/offer spread.
POSIT and TriAct are owned by the POSIT Joint Venture, a joint venture between a subsidiary of Investment Technology Group, Inc. and a subsidiary of Barra, Inc. (Nasdaq:BARZ). The systems are operated by ITG Inc., a SEC registered broker/dealer, NASD member and subsidiary of Investment Technology Group, Inc.
ITG is headquartered in New York with offices in Boston, Los Angeles, Dublin, Hong Kong, London, Melbourne, Sydney, Tel Aviv and Toronto. As a leading provider of technology-based equity-trading services and transaction research to institutional investors and brokers, ITG services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. ITG generates superior trading results for its clients through three lines of business. POSIT, the world's largest equity matching system, allows clients to trade confidentially. The Electronic Trading Desk is recognized as one of the leading program trading operations in the U.S. ITG's leading-edge direct access products allow users to implement their own trading strategies by providing direct electronic access to most sources of market liquidity. For additional information, visit http://www.itginc.com.