Labor Market Conditions Index Raises Possibility Of Negative Rates

Now that we know for certain just how poorly the Chair’s favorite indicator of labor market health is doing, it is fairly clear, as if wasn’t already, there will be no Fed action before next spring. It might, however, become necessary to clarify “no Fed action” to mean more than no rise in policy rates.

Monetary policy works in long and variable lags, and a quick look at the chart below shows that about a year after the Fed started to taper QE, the LMCI dropped to zero. This is in line with what the Treasury market has long been pricing in the forward curves — higher policy rates are expected to slow real growth.

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More Evidence That Amazon Prime is a True Juggernaut
The Street

While Amazon has been notoriously tight-lipped about the growth of its Prime subscription program, the consensus has widely been that the program is seeing continued success in every way. A new survey from Cowen & Company puts some concrete numbers behind the consensus. Of the 2,500 U.S. consumers Cowen surveyed in July, 56.7% had made a purchase on Amazon in the last month. eBay came in second with 21.3% of respondents having made a purchase on the site. […] Prime members spend $1,000 more a year on average compared to non-Prime members, according to ITG analyst Steve Weinstein, and research firm Millward Brown estimates Prime members are almost five times more likely to make a purchase in the same shopping session compared to non-Prime members.

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NEW YORK, Aug. 12, 2015 (GLOBE NEWSWIRE) — ITG (NYSE:ITG), a leading independent execution broker and research provider, today announced that it has reached a final settlement with the Securities and Exchange Commission (“SEC”) in connection with a proprietary trading pilot program that operated for 16 months in 2010 through mid-2011.

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ITG Announces Preliminary Second Quarter 2015 Earnings Guidance

ITG Announces Preliminary Second Quarter 2015 Earnings Guidance, Including Reserve for Probable SEC Settlement

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CFOs Cite European Research Unbundling as ‘Major Concern’

Research unbundling – the separation of research payments from equity trading commission, a key plant of European regulators’ proposed Markets in Financial Instruments Directive II – is looming large as a major concern among US hedge funds’ chief financial officers.

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ITG Launches Server for U.S. – Canada Interlisted Stocks

Traders who want to execute orders in interlisted stocks are getting an updated piece of technology to trade faster and cheaper.

ITG, a U.S.-based execution broker and research provider, announced the launch of the next generation of its Best Market Server – 2.0. This latest iteration of the firm's smart order router helps traders execute their orders that include interlisted Canadian and U.S. stocks and automatically hedging currency exposures in real time.

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Notice about ITG Leap Second Readiness
ITG - Leap Second Readiness06.08.2015

On June 30th, 2015, a leap second will be added after 23:59:59 PM GMT. A leap second is a second which is added to Coordinated Universal Time (UTC)/Greenwich Mean Time (GMT), in order to synchronize atomic clocks with astronomical time to keep clocks as accurate as possible.

ITG utilizes industry-standard time synchronization systems that rely on atomic time sources to maintain accuracy and will be synchronized with UTC during the Leap Second Event timeframe. As part of ITG’s preparation for the 2015 Leap Second, ITG completed a comprehensive systems review and all systems will be available during the Leap Second change as normal. As a precaution ITG’s POSIT system will open in the Asia Pacific region on a one minute delayed schedule at 00:01:00 GMT on July 1st, 2015.

David Meitz
Chief Technology Officer

Flood or trickle? Course of U.S. economy’s rebound murky

WASHINGTON (MarketWatch) — The engines of the U.S. economy are sure to fire back up. What’s still a mystery is just how much.

Not long ago, economists thought U.S. growth could reach nearly 4% in the second quarter after a tepid 0.2% gain in the first three months of the year, a period marked by unusually harsh weather. That would be a carbon copy of the feast-or-famine growth pattern that occurred in 2014.

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Block-Hunting Algorithm May Portend European Dark Pools’ Future

European policy makers want to make dark pools revert to their original purpose as places for trading blocks of stocks, rather than venues that break orders into tiny slivers. Algorithms may help turn that goal into reality.

With those regulations in mind, Investment Technology Group Inc. has revamped its program for finding the best prices for large trades, it said in a statement Tuesday. The broker, which also operates its own venue, probably won’t be the last firm to roll out block-friendly features.

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ITG Launches Dark List Algorithm for Portfolio Traders in the U.S.
Traders Magazine Online News04.28.2015

Agency-only brokerage ITG has rolled out a new algorithm that makes dark pool liquidity available to portfolio traders.

The company unveiled its Dark List Algorithm, a next-generation algorithm which brings the firm's dark trading capacity to portfolio traders.

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