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Investment Technology May volumes slide

By Associated Press
June 5, 2008 | Comments (0)

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Investment Technology Group Inc.'s May trading volumes fell year-over-year as institutional investors limited transactions, the provider of trading services said Thursday.

ITG traded 3.7 billion shares for an average daily volume of 177 million shares last month. A year ago, trades reached 3.9 billion shares for an average of 179 million a day.

"Trading volumes reflect the continued softening in institutional activity that the market has experienced since the first quarter," said Chief Financial Officer Howard Naphtali.

Major exchange operators such as NYSE Euronext and CME Group recently reported similar volume declines for May.

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