ITG Europe says it completed the acquisition of E-Crossnet (EXN) yesterday. ITG says the deal, first announced in December 2004, offers professional investors in Europe an integrated equities crossing system with access to a single and expanded liquidity pool.
ITG Europe operates POSIT – the intraday equities crossing system – and offers a range of transaction analysis tools such as TCA and ITG ACE.
The company describes E-Crossnet as a strategic acquisition aimed at strengthening POSIT’s position as the pre-eminent equities crossing platform in Europe.
“By combining EXN with POSIT we are giving clients the best opportunity to cross shares as well as access to ITG Europe’s professional trading desk and other tools and services,” says Alasdair Haynes, CEO of ITG Europe.