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Second Quarter 2012 Earnings 1/2012

ITG InvestorOverviewMay 2014

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© 2014 Investment Technology Group, Inc. All rights reserved . Not to be reproduced or retransmitted without permission. 050514-28370

SubtitleSubtitleInvestment Highlights

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International Growth

• ITG has achieved product parity with the U.S. in its three international operating regions (Europe, Canada and Asia Pacific)

• In 2013 International comprised 40% of total revenues and 65% of ITG net income.

Robust Balance Sheet

Competitive Platform

Strong Operating Leverage

• Operating model and disciplined expense management provide attractive opportunities for increased profitability

• Incremental pre-tax margins range from approximately 40% to 50% depending on operating region

• Ownership of unique, market-leading trading, analytical and research assets. Expanding our platform globally to increase market share.

• ITG consistently ranks near the top of industry analyst surveys (Greenwich, Tabb, Aite) for products and client service

• Cash and equivalents of $223 million as of March 31, 2014

• Only $27 million in long-term debt

• Active share buyback program funded by free cash flow: $154 million in repurchases since 1Q10 have reduced share count by nearly 18%

SubtitleSubtitleGlobal Product Groups

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Analytics

Platforms

Electronic Brokerage

Research, Sales & Trading

POSIT ® dark crossing in 32 countries

ITG Algorithms ® in 40 countries

ITG Smart Routing

Data-driven research on 20+ sectors, 350+ firms

High-touch trading and portfolio trading

ITG Triton ® broker-neutral execution management

ITG OMS ® and ITG Position Manager

ITG Net ® FIX connectivity to 650+ destinations

ITG TCA ® is the global market leader

Available for equities and foreign exchange

Pre-trade, real-time and post-trade analytics

SubtitleSubtitleGlobal Reach

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• ITG is headquartered in New York, with 1,019 employees worldwide

• 15 offices in 9 countries, including 9 trading desks

SubtitleSubtitleU.S. Macro Environment: Difficult But Improving Fund flows for U.S. mutual fund managers2010-2014, $Billions

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Source: Investment Company Institute

-70.00

-50.00

-30.00

-10.00

10.00

30.00

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Dec

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Dec

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International Equity U.S. Equity Total Bond

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$18,544

$20,105

$17,575

$18,770 $19,336$20,950

$21,794$22,663

$26,385

$32,832

$11,313

$12,793

$10,477$11,396

$9,774

$2,576

$3,447$2,749

$2,321

$4,559

$3,501

$4,358 $4,115

$7,670

$10,742

-$865 -$405 -$652 -$256-$1,729

-$5,000

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

$35,000

1Q 13 2Q 13 3Q 13 4Q 13 1Q 14

Canada Revenue

Europe Revenue

Asia Pac Revenue

Canada Pre-tax

Europe Pre-tax

Asia Pac Pre-tax

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International: Europe and Canada Operations Driving Growth

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International Opportunities

Europe

• Ranked #1 among large firms polled by Greenwich Associates in Europe for best anonymity in a dark pool

• POSIT had over 12% share of European dark trading in 2013

• Full suite of ITG products now available in Europe; Algo trading and POSIT access in 21 EMEA markets

Canada

• Top 10 institutional broker by market share

• Ranked #1 by Greenwich in electronic

trading, portfolio trading and algorithms

• Operates MATCH NowSM broker neutral crossing system, Canada’s largest dark pool

• Leading Canadian CSA broker; ranked #1 by Greenwich

Growing Segment

• International operations comprised 40% of total revenues and 65% of net income in 2013

Asia

• New product offerings, secular shift towards electronic trading

• POSIT Marketplace launched in HK, Australia, Japan, Malaysia, Indonesia and Singapore.

• Named Best Agency Broker by Asian Investor

• Move towards unbundling trading gaining traction with TCA research and CSAs

• Electronic trading 25%+ of Asia Pacific equity trading, according to Greenwich

SubtitleSubtitleITG at a Glance

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• Solid balance sheet, strong cash flow generation and active buyback program

• Unique, market-leading assets for execution, research and trade analysis

• Solid international platform with significant growth opportunities

• Disciplined expense management increases operating leverage, resulting in 40-50% incremental pre-tax margins

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Second Quarter 2012 Earnings 1/2012

Appendices:Product Offerings

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SubtitleSubtitle

Second Quarter 2012 Earnings 1/2012 10

Liquidity

Featuring: ITG Algorithms

POSITClean, global dark liquidity. Average US Daily Volume of 67mm shares in 1Q 2014

ITG AlgorithmsSophisticated strategies for equities and futures

ITG Smart RoutingOne-point high-speed connection to liquidity

ITG NetGlobal FIX connectivity with trading insights

ITG Trading ServicesGlobal expertise across asset classes

Featuring: POSIT Alert

• High-quality block crossing

opportunities before they reach the

market. Average trade size is 35,000

shares.• #1 Clients’ Choice Top Five Dark

Pools, TABB US Institutional Equity

Trading Survey• #1 for Best Anonymity in a Dark Pool,

Greenwich Associates

• Ranked #1 market share by Tabb Group

and #1 speed and price improvement by

The Trade• Algo trading available in 40 countries. Offer

algorithms for equities, futures and options• ITG Dynamic Open named best algo by

Wall Street Letter

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Featuring:

ITG Investment Research

ITG Industry Investment ResearchData-driven insights on more than 350 companies in 20+ sectors in Energy, Consumer, Internet and TMT areas

ITG High Touch and Portfolio TradingHigh touch traders provide expert execution coupled with ITG Investment Research insights.

Seasoned portfolio traders provide high-touch and electronic list trading globally.

• Exclusive data provider relationships • Groundbreaking, proprietary methods

for analyzing massive amounts of data• Highly skilled, quantitative research

followed by seasoned, expert analysis• Data-drivem economic notes and macro

reports

Research, Sales & Trading

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Featuring: Triton

Platforms

Featuring: ITG Net ®

• FIX connectivity and management to more

than 650 global destinations.• Industry-leading tools for pre-, intra-day,

and post-trade cost estimating.• Execution transparency to evaluate trading

and broker performance against the market

and your peers

• Sophisticated, broker-neutral EMS with

global connectivity, aligned to clients’ interests

and trading styles.• Best EMS, Asian Investor, 2011, 2013• Best EMS, Forefactor Inc. (Canada), 2011

ITG Execution Management SystemsGlobal, broker-neutral and multi-asset EMSs

ITG Order Management SystemsITG OMS: Global, multi-asset enterprise OMSITG Position Manager: Dedicated Hedge Fund OMS

ITG NetProviding EMS and OMS FIX connectivity with approximately 9,000 global connections.

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Analytics

Featuring: ITG TCA®

• The leader in assessing trading

performance to reduce costs and

improve fund rankings. Includes competitive

comparisons through ITG Peer Analysis™.• Named Top TCA provider by Waters and

Financial News, 2013

ITG Trading AnalyticsAlpha preservation throughout the trading process

ITG Portfolio AnalyticsPortfolio modeling, optimization, and pricing

ITG Analytics ServicesInvestment process consulting to improve execution

Dynamic, interactive tool set to view real-time

market data, identify outliers, and forecast

long-term costs to improve performance during

a trade’s lifecycle.

Featuring: ITG Smart Trading Analytics

SubtitleSubtitleDisclaimers

•These materials are for informational purposes only, and are not intended to be used for trading or investment purposes or as an offer

to sell or the solicitation of an offer to buy any security or financial product.  The information contained herein has been taken from

trade and statistical services and other sources we deem reliable but we do not represent that such information is accurate or

complete and it should not be relied upon as such.  No guarantee or warranty is made as to the reasonableness of the assumptions or

the accuracy of the models or market data used by ITG or the actual results that may be achieved.  These materials do not provide

any form of advice (investment, tax or legal).  ITG Inc. is not a registered investment adviser and does not provide investment advice

or recommendations to buy or sell securities, to hire any investment adviser or to pursue any investment or trading strategy.  All

functionality described herein is subject to change without notice.

•Broker-dealer products and services are offered by: in the U.S., ITG Inc., member FINRA, SIPC; in Canada, ITG Canada Corp.,

member Canadian Investor Protection Fund (“CIPF”) and Investment Industry Regulatory Organization of Canada (“IIROC”); in

Europe, Investment Technology Group Limited, registered in Ireland No. 283940 (“ITGL”) and/or Investment Technology Group Europe

Limited, registered in Ireland No. 283939 (“ITGEL”) (the registered office of ITGL and ITGEL is First Floor, Block A, Georges Quay,

Dublin 2, Ireland and ITGL is a member of the London Stock Exchange, Euronext and Deutsche Börse). ITGL and ITGEL are

authorised and regulated by the Central Bank of Ireland; in Asia, ITG Hong Kong Limited (SFC License No. AHD810), ITG Singapore

Pte Limited (CMS Licence No. 100138-1), and ITG Australia Limited (AFS License No. 219582). All of the above entities are

subsidiaries of Investment Technology Group, Inc.  MATCH NowSM is a product offering of TriAct Canada Marketplace LP (“TriAct”),

member CIPF and IIROC.  TriAct is a wholly owned subsidiary of ITG Canada Corp.

14Disclaimers