ITG Europe, the technology-based equity trading services company, has introduced a seventh daily match on Posit, its European equities crossing system.

The company, which opened its doors in Europe four years ago this week and has 200 clients, will run a cross at 4pm GMT in addition to crosses at 9am, 10am, 11am 12pm, 2pm and 3pm. Posit matches equity orders submitted anonymously from buyside and sellside institutions. They use the system as an alternative to the traditional marketplace as it allows them to cut market impact out of their transaction costs.