Investment Technology Group plans to launch an after-hours cross in mid-February through its POSIT equity matching system. POSIT will run the cross once each day after 6:30 p.m. EST. The cross will use the primary market closing price for listed stocks and the primary closing price for Nasdaq stocks.
All executions will be next-day trades, according to ITG. Along with the new after-hours match will be advanced news and price filtering capabilities that monitor for stocks that are materially affected by news developments.