ITG - Posit

POSIT is the flagship electronic equity crossing network and alternative trading system (ATS) operated by Virtu Financial, Inc. Originally launched by Investment Technology Group (ITG) in the 1980s as one of the first electronic block-trading platforms, POSIT allows institutional investors to execute large equity orders anonymously with minimal market impact. Following Virtu Financial's acquisition of ITG in 2019, POSIT became part of Virtu's global execution services offering, alongside the Virtu MatchIt ATS and the firm's market-making and client solutions businesses. Today POSIT operates in multiple regulatory venues. In the United States it runs as POSIT ATS, with a related conditional order platform called POSIT Alert. In Europe it operates as POSIT MTF, a multilateral trading facility subject to MiFID II rules. Virtu publishes detailed transparency disclosures for each venue, including Form ATS-N filings, trading statistics, FIX specifications, and disabled-symbol lists, reflecting the firm's stated commitment to market transparency. POSIT is used primarily by asset managers, hedge funds, and other institutional clients seeking to cross block orders away from lit exchanges. The platform competes with other dark pools and block-crossing venues, and is marketed as part of Virtu's broader suite of execution management, algorithmic trading, and analytics tools. Virtu reports that its combined market-making and execution businesses provide liquidity in over 25,000 securities across more than 235 venues in 37 countries, a scale that supports POSIT's liquidity profile. As a product brand, POSIT is not separately listed; it is a subsidiary offering within Virtu Financial, Inc., which is publicly traded on NASDAQ under the ticker VIRT. The POSIT brand retains strong recognition among institutional traders as a pioneer of electronic block crossing.

POSIT was originally developed by Investment Technology Group (ITG), a New York-based agency brokerage and financial technology firm. Launched in the late 1980s, POSIT was among the first electronic crossing networks designed to match institutional equity orders without displaying them on a public exchange, thereby reducing market impact and information leakage. The platform grew into a major venue for block trading in the United States and later expanded internationally, including a European multilateral trading facility (POSIT MTF) and operations in Canada and Asia-Pacific. For decades POSIT was a core product of ITG's execution services business, alongside ITG's algorithmic trading, analytics, and research offerings. ITG itself was publicly traded on the New York Stock Exchange under the ticker ITG. In 2019, Virtu Financial, Inc. acquired ITG in a transaction that combined Virtu's market-making and execution technology with ITG's agency brokerage and POSIT crossing network. After the acquisition, POSIT was integrated into Virtu's global execution services suite, and Virtu continued to operate POSIT ATS in the US and POSIT MTF in Europe. Under Virtu, POSIT has been positioned as part of a broader liquidity and transparency offering. Virtu publishes detailed regulatory and operational disclosures for POSIT venues, including Form ATS-N filings for the US ATS, trading statistics, FIX specifications, and lists of disabled symbols. The platform also supports POSIT Alert, a conditional order and block-crossing tool that allows users to indicate block interest and receive targeted liquidity notifications. Virtu's transparency page describes POSIT as a key component of its liquidity pools across regions. As of the 2020s, POSIT remains an active brand within Virtu Financial, which is listed on NASDAQ under the ticker VIRT. The platform competes in the institutional equity crossing space with other dark pools and block venues, and is marketed alongside Virtu's execution management system, algorithmic trading, and analytics products. Virtu's broader business provides liquidity in over 25,000 securities across more than 235 venues in 37 countries, a scale that supports the POSIT franchise.

• POSIT launched by Investment Technology Group (ITG) as an electronic block-crossing network.

• Virtu Financial, Inc. acquired ITG, integrating POSIT into Virtu's execution services.

• POSIT ATS and POSIT MTF operate as regulated venues with public transparency disclosures.

Institutional electronic block-crossing and dark liquidity venue emphasizing transparency, anonymity, and minimal market impact.

• POSIT ATS

  US alternative trading system for anonymous institutional equity crossing.

• POSIT Alert

  Conditional order and block-crossing tool that notifies users of matching liquidity interest.

• POSIT MTF

  European multilateral trading facility for institutional equity crossing under MiFID II.

• Virtu MatchIt

  Virtu's separate ATS for US equity crossing, often listed alongside POSIT.

1. 1VIRTU Financial Inc. homepagevirtu.com
2. 2About – VIRTU Financial Inc.virtu.com
3. 3Awards – VIRTU Financial Inc.virtu.com
4. 4Transparency – VIRTU Financial Inc.virtu.com
5. 5ITG - Posit on Wikidatawikidata.org