Instinet Connects to Equiduct Systems Limited’s HybridBook
LONDON – November 1st, 2010 – Instinet, a global leader in electronic trading and agency-only brokerage, today announced that its Instinet Europe Limited subsidiary has successfully completed conformance testing on Equiduct Systems Limited’s HybridBook trading platform. As a result, Instinet Europe’s institutional clients will benefit from access to Equiduct Systems Limited’s liquidity in UK, French, Belgian, Dutch, Portuguese and German stocks via Instinet’s Execution Experts™ algorithmic suite and its award-winning SmartRouter.
“In Europe, Instinet’s SmartRouter and algorithms access more than 40 exchanges, MTFs and broker-operated dark pools, and we are pleased to announce Equiduct as the latest venue,” said Richard Balarkas, CEO of Instinet Europe Limited. “Our approach to liquidity sourcing is 100 percent aligned with our clients’ interests and their goal of finding the best liquidity available. We never compromise that goal by preferencing venues based on our costs of trading or the rebates offered.”
Commenting on the announcement, Peter Randall, CEO of Equiduct Systems Limited,added, “We are delighted that a broker with the international stature of Instinet has connected to our pan-European liquidity. Our specialist model which allows European retail liquidity to interact with professional flows is proving to be a fast growing segment of the wider European equity markets. We are confident that access to our liquidity will offer price improvement opportunities for Instinet’s global client base.”
Instinet Europe is one of Europe’s largest agency brokerages and is a top 10 broker by market share ranking on the London Stock Exchange year to date*. The firm employs more than 40 sales and trading personnel in three European locations. Instinet Europe provides its clients with a comprehensive suite of trading services that includes agency sales trading, global portfolio trading, algorithmic trading, DMA, smart order routing, commission management and its BlockMatch™ dark MTF.
* According to the London Stock Exchange Reporting Service.
Instinet is an electronic trading pioneer, having established the world’s first major electronic trading venue in 1969, one of the first recognized U.S. ECNs in 1997 and the first pan-European MTF in 2007. Through its subsidiaries and affiliates, Instinet operates two distinct business lines: a global network of agency-only brokers that seek to help institutions lower overall trading costs and improve investment performance through the use of innovative electronic trading products, including smart-routing, algorithms, DMA, TCA, dark pools and EMS platforms, and also provide sales trading, commission management services and independent research; and the Chi-X® Global businesses, which aim to improve the efficiency of capital markets globally by providing high-performance, low-cost alternative execution venues and the technology required to power them. Instinet is a wholly-owned subsidiary of Nomura Holdings, Inc. For more information, please visit www.instinet.com.
About Equiduct Systems Limited
Equiduct Systems Limited is a technology and transactions services provider specialising in offering low latency market data and trading platform solutions.
Julia Streets / Sybille Mueller
Streets Consulting Ltd. for Instinet Europe Limited
Phone: + 44 20 7959 2235
Executive Director, Global Marketing and Communications
Fleishman-Hillard Inc. for Equiduct Systems Limited
Phone: +44 20 7395 7095
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