SINGAPORE, Sept. 25, 2014 (GLOBE NEWSWIRE) -- ITG (NYSE:ITG), a leading execution and research broker, today announced that its newly acquired RFQ-hub Platform has been named Best New Product – Connectivity in the FOW Awards for Asia 2014. The awards celebrate pioneers of derivatives trading in Asia Pacific and are selected by an independent panel of judges.
In announcing the win, FOW wrote: "RFQ-hub's new interface layer for Order Management Systems (OMS) designed for the Asia Pacific market impressed judges at a time when many firms are being forced to automate trade cycles that were previously manual processes. The application offers streamlined request-for-quote and order workflows across cash equities, OTC and listed derivatives. Based on FIX standards, this connectivity closes the trade life-cycle by providing OMS users a complete pre-to-post trade electronic system for these error-prone products. Instead of using email, IB chat or the phone to obtain competing quotes and trade vanilla and complex derivatives, buy-side traders can use RFQ-hub connected to their OMS using FIX to send a quote request to multiple liquidity providers at once. One judge said: 'The ability to manage the OTC workflow in one place in a fully automated fashion is invaluable in the modern trading environment and the importance of this product will only grow in line with the market.'"
David Sagnier, Managing Director and Head of RFQ Platforms at ITG, responded: "We are very proud to be recognized by FOW as a pioneer of connectivity and innovation in the Asia Pacific derivatives markets. This win comes at an exciting time for our business given the recent integration with ITG's global multi-asset brokerage model, and we look forward to ongoing development both in Asia and globally for the combined ITG RFQ-hub offering."
About ITG
ITG is an independent execution and research broker that partners with global portfolio managers and traders to provide unique data-driven insights throughout the investment process. From investment decision through settlement, ITG helps clients understand market trends, improve performance, mitigate risk and navigate increasingly complex markets. ITG is headquartered in New York with offices in North America, Europe, and Asia Pacific. For more information, please visit www.itg.com.