Instinet joins Fidessa global network
London, 24th January 2005 - Instinet, The Unconflicted Institutional Broker today announced an agreement with royalblue to become a destination on the Fidessa global connectivity network. European users of Fidessa will now have access to Instinet's unbiased, direct and efficient access to liquidity in more than 30 global equity markets.
The Fidessa client base includes both buy-side and sell-side organisations and this deal will provide them with access to Instinet's global electronic trading services through a Fidessa front-end. In addition, clients will be able to take advantage of Instinet's SmartRoutersm technology which is designed to achieve best execution by allowing simultaneous representation of orders in multiple venues.
Steve Harris, Head of Direct Market Access, Instinet Europe Limited says: "We are constantly looking at ways in which we can improve efficiencies and broaden our offering. As such we are pleased to be working with a leading system such as Fidessa. As an agency broker, we seek to achieve best execution on every client order and believe our fast, anonymous and direct access to the best available prices helps clients optimize their trading performance. In addition, this partnership goes a long way towards achieving STP, as institutional investors are able to execute and track the entire trade lifecycle using a single point of entry."
Simon Barnby, Business Development Manager for Fidessa, adds: "Fidessa users can now benefit from the functionality and expertise of yet another leading broker. Fidessa's pedigree technology combined with Instinet's agency-only business model makes a compelling solution for our users."
About Instinet, the Unconflicted Institutional Broker
Instinet, through affiliates, is the largest global electronic agency securities broker and has been providing investors with electronic trading solutions for more than 30 years. Our services enable buyers and sellers worldwide to trade securities directly and anonymously with each other, have the opportunity to gain price improvement for their trades and lower their overall trading costs. Instinet is part of the Reuters family of companies.
Through our electronic platforms, our customers can access over 30 securities markets throughout the world, including NASDAQ, the NYSE and stock exchanges in Frankfurt, Hong Kong, London, Paris, Sydney, Tokyo, Toronto and Zurich. We also provide our customers with access to research generated by us and by third parties, as well as various informational and decision-making tools. We act solely as an agent for our customers and do not trade securities for our own account or maintain inventories of securities for sale.