ITG and IRESS Establish Canadian Joint Venture

Investment Technology Group, Inc., a provider of technology-based equity trading services, established, on April 8, 2004, a Canadian joint venture with IRESS Market Technology Ltd., a publicly traded Australian company that provides professional market data, execution and order routing services to the Australian and New Zealand equities market. The amount of the transaction is undisclosed.

Under the terms of the joint venture, IRESS purchased a 50 per cent stake in KTG Technologies Corp., an ITG subsidiary and a Canadian provider of direct access and equity trading services. Furthermore, the joint venture parties will adapt and bring to the Canadian market IRESS’ share market information and trading systems currently used in Australia.

ITG was represented by McCarthy Tétrault, with a team that included René Sorell, Brian Graves, Amer Chaudhry, David Ma and Caroline Jageman.

IRESS was represented by the Australian firm, Mallesons Stephen Jaques, with a team that included Alison Lansley, Corinne Katz and Melissa Fogarty; and assisted in Canada by Karen Jackson and Justin Parappally of Stikeman Elliott.