Investment Technology Group, Inc. (ITG) has announced that US trading volume was 2.3 billion shares for the month ended August 31, 2005, averaging 99 million shares per trading day.
This compares to 2.0 billion shares (101 million per trading day) in July 2005 and 1.5 billion shares (74 million per trading day) in August 2004.
There were 23 trading days in August 2005, compared to 20 trading days in July 2005, and 20 trading days in August 2004.
“ITG’s U.S. volumes remained robust in August. However, as we cautioned during our second quarter earnings call, European volumes encountered the expected seasonal impact in August in addition to softening in July due, in part, to uncertainty surrounding the terrorist attacks in London. Collectively, our European revenues have averaged approximately £60,000 per day in July and August combined,” said Howard Naphtali, ITG’s chief financial officer. “ITG has begun launching the Triton product in Europe and adding the ITG algorithmic trading suite to the European product line. These additions are expected to help position ITG Europe for continued strong, long-term growth.”