Investor Presentation August 2016

1. Subtitle
Q4 2013 Earnings 1/30/14
Subtitle
© 2016 Investment Technology Group, Inc. All rights reserved.
Not to be reproduced or retransmitted without permission. #80216-28213
ITG Investor
Overview
August 2016

2. SubtitleSubtitleITG is an independent broker and financial technology firm that helps
improve the efficiency and execution quality of institutional trading
Growth Opportunities
• ITG is expanding product offerings and
market share in Europe, Canada and
Asia Pacific
• Positive trends: unbundling of research
from execution and growing
electronification of trading
• Multi-asset expansion strategy of cost-
contained relevance in FX, Fixed Income
Robust Capital Position
Competitive Core Business
Strong Operating Leverage Potential
• Operating model and disciplined expense
management provide attractive
opportunities for increased profitability
• Pre-tax margins on incremental revenue
exceed 50% across all regions
• Strategic operating plan launched in 3Q16
to drive revenue growth and improved
margins
• Unique liquidity, market-leading execution,
workflow technology and analytics assets.
Technology is being deployed to boost scale
and gain market share
• ITG consistently ranks at or near the top of
industry analyst surveys (Greenwich, Tabb,
Aite) for products and client service
• Sale of research business and closure of
peripheral businesses has sharpened focus
• Total cash and equivalents of $237 million
and $90 million of excess cash as of June
30, 2016, only $9 million long-term debt
• Active share buyback program: $246
million since 1Q10, has reduced share
count, net of issuances, by ~25%
• $0.07 quarterly dividend paid since 2Q15
• $40m total capital return targets for FY16 &
FY17
1

3. Subtitle
Global Product Groups
2
20%
9%
71%
Workflow
Technology
Analytics
Execution Svcs
1H16 Adjusted Revenues
$243mm*
*Excludes business recovery insurance payment of $2.4 million.
Source: ITG
13%
9%
52%
26% Canada
Asia Pac
US
Europe
1H16 Revenues by Region*
Data-driven
research in
Consumer,
Macro and TMT
sectors
Energy research
under license
from RS Energy
High Touch and
Portfolio Trading
Corporate
Access services
POSIT® dark
crossing in 36
countries
ITG
Algorithms® in
40 countries
ITG Smart
Routing and
Direct Market
Access (DMA)
POSIT® FI and
POSIT® FX in
beta
Triton® broker-
neutral
execution
management
ITG Order
Management
System and
ITG Position
Manager™
OMS for
Hedge Funds
ITG Net® FIX
connectivity to
650+
destinations
ITG RFQ-hub
for OTC
connectivity
and trading
ITG TCA® is
the global
market leader
Available for
equities and
foreign
exchange,
fixed income
TCA in
development
Pre-, real-, and
post-time trade
analytics
WORKFLOW
TECHNOLOGY
Triton® broker-
neutral
execution
management
ITG Net®
FIX
connectivity to
650+
destinations
ITG RFQ-hub
for OTC
connectivity
and trading
ANALYTICS
ITG TCA® is
the global
market leader
Available for
equities and
foreign
exchange,
fixed income
TCA in
development
Pre-, intra-,
and post-trade
analytics
EXECUTION
SERVICES
POSIT® dark
crossing in 36
countries
ITG
Algorithms® in
40 countries
ITG Smart
Routing
Global
portfolio
trading
Single-stock
high-touch
trading

4. Subtitle
• 963 employees (as of 2Q16)
• Offices in 9 countries including
9 trading desks
• 250 awards and honors over last 6
years across Execution Services,
Analytics, and Workflow Technology
3
Global Presence, Local Expertise

5. Subtitle
Positive Industry Trends: Unbundling and Electronification
4
20
30
40
50
60
US EU CA Asia
2014 2015 2018e
Continued growth
in electronic equity execution
Source: Greenwich Associates
Electronic Equity Trading (% of total value traded)
• Importance of electronic execution continues to grow in
the equity markets
• ITG today has the ability to compete for ~50% of the
global wallet
• With MiFID II in EU and the global trend towards
unbundling research and execution, ITG expects to
compete for a larger share of the total wallet
Sizable and growing addressable market
$8bn
$2bn$3bn
$8bn
Execution
only
Bundled
CSA - Research CSA - Execution
Current
addressable
market
Increasingly
accessible as
industry
unbundles
2015 global equities commission pool: $21bn
Increasing importance of best-in-class,
technology-enabled execution
Significant opportunity to capture value

6. Subtitle
Sizing the Opportunity
Upside Potential from Market Share Gains
Americas (#15) EMEA (#20) Asia Pacific (#21)
Revenue Gap to #10 Broker
ITG Cash Commissions ($M)
ITG cash equity commissions and broker rankings in FY15. Source: ITG and third-party analysis.
Excludes sell-side commissions and some buy-side clients not in third-party reporting universe.
5
Global revenue gap to #10 broker: $500mm+ revenue opportunity
Universe of ~200 large prospect accounts available to pursue
.
$237m
$134m
$194m

7. Subtitle
Liquidity
6
Execution Analytics Workflow
Evolve Brand Identity
Refocus on core capabilities, clarity of
message and industry thought leadership
Optimize Cost Structure
Focus on synergistic, scalable businesses, optimize processes,
technology/platform convergence
Strengthen the Leadership and Culture
Aspiration to be the best operator; shared understanding of mission and strategy
Differentiate Client Experience
Best operator status to deliver best-in-class client
experience, product performance and execution advice
Provide Best-in-Class, Technology-Driven Solutions
Provide a complete set of solutions across the trade activity chain
through targeted investments and tenacious delivery
Client Delivery
Capture Scale and Foster a Leadership Culture
Strategic Operating Plan: 3Q16 through 4Q18

8. Subtitle
7
Investments: Timing and Cost Savings Offsets
Investments
Cost reductions
Scoping /
Initial
investments
Ongoing cost-cutting initiatives
2016
2H
2017
1H
2017
2H
2018
1H
2018
2H
2019+
Investment
ramp-up period
Continuing
investment
Tail period
Ongoing
development
/maintenance
Initial cost-
cutting
Ongoing
benefits from
technology
Illustrative timetable
• ~$40 million in incremental investment planned over next ten quarters
- Anticipate ~½ operating, ~½ capitalized with 3-year amortization
• Cost reduction measures to be phased in starting 2H16
- Areas of focus: Compensation, connectivity, market data, and vendors
- Expected to reduce costs by at least $5mm/yr
- Reduced costs expected to provide funding for >$10mm of incremental
investment
• Technology investments, process improvements to cut expenses by additional
$5mm/yr 2019 onwards

9. Subtitle
Financial Targets
8
Run-rate revenue
(exiting 2018)
Up 25% from 2015
pro forma¹
Revenue CAGR
(2016-18)
Mid-to-high single
digits
Pre-tax margin
(exiting 2018)
~15%
Run-rate expense
reductions
(2019 on)
Additional $5mm
annually
1 FY15 Pro Forma Revenue of $478mm, excluding divested and closed businesses
• Revenue growth expected to take place
over several years
- Growth expected to accelerate starting
in mid-2017
• Forecasts assume flat global trading
volumes
• Expense reductions from technology
investments, process improvements
(globalization, operations optimization)
Run-rate financial targets

10. Subtitle
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Jun '16
9
• Consistent capital return program has reduced outstanding shares by ~25% since 1Q 2010
• Dividend payout since 2Q 2015 of $0.07/share ($2mm+/quarter)
• Sale of Energy Research group increased available free cash: $90mm at June 30, 2016
• ITG is well capitalized to invest in organic growth opportunities
*Cash over and above the amount needed for regulatory capital, clearing margin, compensation accruals and other liabilities.
Source: ITG
Basic Shares Outstanding (millions)
0
20
40
60
80
100
120
Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Jun '16
Available Excess Cash* ($millions)
Strong Capital Position

11. Subtitle
$40mm
Share
Repurchases
$30mm
Capital Allocation Targets
10
Capital return targets for FY16 and FY17
Cash dividend
$10mm• Expect 2H16 share repurchases on
par with 1H16 (~$15mm) for total
FY16 capital return of $40mm
• FY17 capital return expected to be
similar: $40mm ($30mm buyback +
$10mm dividend)
• Planned investments still leave
>$50mm available free cash

12. Subtitle
Appendices
Product Offerings
11

13. SubtitleSubtitle
Execution Services
Featuring: ITG Algorithms®
POSIT®
Large pool of accessible dark liquidity.
Average US Daily Volume of 57m shares in 1H16
ITG Algorithms®
Sophisticated strategies for equities and futures
ITG Smart Routing
One-point high-speed connection to liquidity
ITG Portfolio Trading
Seasoned portfolio traders provide high-touch and
electronic list trading globally. Ranked #1 US
electronic portfolio trading by Greenwich
ITG Single-Stock Trading
Seasoned portfolio traders provide high-touch and
electronic list trading globally.
ITG Corporate Access
Experienced team offers individual and group events
with corporate decision makers at companies across a
range of industries.
Featuring: POSIT Alert®
• High-quality block crossing
opportunities with average US trade size
(ex-algos) of 35,000 shares.
• POSIT Alert available in 36 countries
• #1 for Dark Pool Access, 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
12

14. SubtitleSubtitle
Featuring: Triton®
Workflow Technology
Featuring: ITG Net®
• FIX connectivity and management to more
than 650 global destinations
• Industry-leading tools for pre-, intra-trade,
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
• Alternative Trading System of the Year, Asian Banker,
ITG Execution Management System
Triton: Global, broker-neutral and multi-asset EMS
ITG Order Management System
ITG OMS: Global, multi-asset enterprise OMS
ITG Net®
Providing EMS and OMS FIX connectivity with
approximately 9,000 global connections
ITG RFQ-hub
Multi-asset platform for global listed and OTC assets
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15. SubtitleSubtitle
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 The Trade
• Available for both Equities and Foreign Exchange
ITG Trading Analytics
Alpha preservation throughout the trading process
ITG Portfolio Analytics
Portfolio modeling, optimization, and pricing
ITG Analytics Services
Investment 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
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16. SubtitleSubtitle
Disclaimers
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.
This document and the presenter’s comments relating hereto may contain forward-looking statements that reflect management’s expectations
for the future. A variety of important factors could cause results to differ materially from such statements. These factors are noted throughout
ITG’s Form 10-K and in its Form 10-Qs and include, but are not limited to, general economic, business, credit and financial market conditions,
internationally and nationally, financial market volatility, fluctuations in market trading volumes, effects of inflation, adverse changes or
volatility in interest rates, fluctuations in foreign exchange rates, evolving industry regulations, changes in tax policy or accounting rules, the
actions of both current and potential new competitors, changes in commission pricing, potential impairment charges related to goodwill and
other long-lived assets, rapid changes in technology, errors or malfunctions in our systems or technology, cash flows into or redemptions from
equity mutual funds, ability to meet liquidity requirements related to the clearing of our customers’ trades, customer trading patterns, the
success of our products and service offerings, our ability to continue to innovate and meet the demands of our customers for new or
enhanced products, our ability to successfully integrate companies we have acquired, our ability to attract and retain talented employees and
our ability to achieve cost savings from our cost reduction plans.
Disclaimers 15