CalloftheWild's Profile
CalloftheWild's Posts
yes you're correct on Dr. Taylor's response to graphene. it is not light emittingEmpire Club - Apr 28,2014 , 44:50 or so. thanks for pointing that out. it does make me think they should form partnerships soon and get those 40 engineers working on Poet. Science doesn't sleep.
Investment Technology Group
Investment Technology Group, Inc.
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Public company
Industry
Financial services
Founded
1987
Headquarters
New York City, USA
Robert Gasser (President and CEO), Maureen O'Hara(Chairman of the board), Steven Vigliotti(CFO)[1]
Products
Brokerage, market technology
Revenue
US$559.8 million (2014)[2]
US $50.9 million (2014)[2]
Total assets
US $1,350 million (2014)[2]
Total equity
US $415.6 million (2014)[2]
1,270 (2008)[3]
Website
www.itg.com
Investment Technology Group, Inc. is a United States-based multinational agency brokerage and financial markets technology firm aimed at a hedge fund and asset managementclientele. One of the first suppliers of electronic trading services, ITG launched the industry’s second anonymous electronic trade matching system, POSIT, in 1987 (Instinet Cross was launched in 1986). ITG has since expanded its business to include tools for portfolio management, pre-trade analysis, order management, trade execution, and post-trade evaluation.
ITG is headquartered in New York City and has offices in locations including Boston, Los Angeles, Toronto, Chicago, London, Dublin, Tel Aviv, Madrid, Sydney, Melbourne, Hong Kong and Singapore.[4]
History[edit]
ITG was founded in 1987 as a division of Jefferies to provide automated equity trading to institutional investors.[5] That year, the company introduced POSIT, an anonymous electronic trade matching system, in conjunction with Barra.[6] POSIT remains among the most widely used matching systems.
In 1990, ITG launched QuantEX, a high-end trading system for institutional traders integrating analytics, routing, and trade management. ITG began to provide clients with pre- and post-trade tools and analytics in 1992.
ITG became a publicly traded company in 1994, listed on NASDAQ. The ITG Australia office opened in 1997, giving regional investors POSIT equity crossing. The firm expanded into Europe in 1998. In 1999, ITG completed its spin-off from Jefferies, giving it full independence.[7]
In 2000, the company’s Canada office opened. In 2002, ITG moved into the hedge fund market by acquiring Hoenig, a provider of trade execution and research services to alternative investment funds.[8] The firm then opened an office in Hong Kong.
ITG completed its purchase of Radical Corporation, a provider of direct access trading to the institutional brokerage and hedge fund community, in 2004.[9] The firm then opened a Japan office in 2005. The company moved to increase its transaction cost analysis offering when it acquired Plexus Group from JPMorgan Chase in 2006.[10] That same year, ITG acquired Macgregor, a provider of trade order management systems, for $230 million.[11] In 2007, it acquired RedSky Financial, a developer of futures and options trading technology.
In 2007 the company came under pressure from activist hedge fund D. E. Shaw to either sell off some of its assets or initiate a share buyback.[12] Shaw has since reduced its stake, citing satisfaction with ITG's RedSky purchase and an announced $50 million stock repurchase program.[13]
A memorandum of understanding (MoU) describes a bilateral or multilateral agreement between two or more parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement. It is a more formal alternative to a gentlemen's agreement.
Whether or not a document constitutes a binding contract depends only on the presence or absence of well-defined legal elements in the text proper of the document (the so-called "four corners"). The required elements are: offer and acceptance, consideration, and the intention to be legally bound (animus contrahendi). In the U.S., the specifics can differ slightly depending on whether the contract is for goods (falls under the Uniform Commercial Code [UCC]) or services (falls under the common law of the state).
4. Continuous disclosure requirements
The continuous disclosure obligations of a reporting issuer fall into two categories: periodic disclosure and timely disclosure.
Periodic disclosure occurs at regular intervals and consists of quarterly and annual financial statements, quarterly and annual management discussions and analysis, an annual information form (for TSX issuers), and shareholder meeting materials.
In Canada, reporting issuers are required to file their continuous disclosure and timely disclosure documents on sedar.com, a free electronic database for investors and others.
Canadian securities legislation also requires insiders of reporting issuers to report their security holdings and any direct and indirect transactions involving those holdings.
The principal requirement for timely disclosure is that a reporting issuer must issue and file a press release “forthwith” when a material change in its affairs occurs or when material information relating to its affairs becomes known to management. A “material change” is a change in the business, operations or capital of the reporting issuer that would reasonably be expected to have a significant effect on the market price or value of any of the securities of the reporting issuer. The definition also includes situations where a decision to implement a change referred to previously is made by the board of directors or other persons acting in a similar capacity, or by senior management of the reporting issuer who believe that confirmation of the decision by the board of directors, or other such persons acting in a similar capacity, is probable.