ITG Announces Cost-Reduction Initiatives
ITG (NYSE: ITG), a leading execution and research broker, today announced a plan to reduce operating costs in the face of continued weakness in institutional equity trading volumes. This cost reduction initiative is designed to improve financial performance while maintaining ITG's competitiveness and high standards of client service. This plan stems from a comprehensive review of ITG's various business activities, benchmarking ITG's cost structure against industry peers. The cost reductions are primarily focused on headcount, market data and other general and administrative costs across ITG's businesses.
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