Instinet Joins With LatentZero To Offer Algorithmic Trading Services
New York, March 14, 2005 - Instinet, LLC, the Unconflicted Institutional Broker, announced today that its algorithmic trading services can now be accessed by clients through LatentZero's Minerva trading and order management system.
Instinet Algorithmic Trading enables clients to select and use those rules which meet their specific requirements and benchmarks, such as VWAP, Block PegSM and Volume Participation. Moreover, Instinet's clients can employ these rules without ever having to worry about information leakage.
"We believe that our relationship with LatentZero represents a significant benefit to institutional investors who want to use our unconflicted algorithmic trading platform," said Steve Brain, Global Head of Systematic Trading, Instinet, LLC. "As we continue to grow our algorithmic trading business, joint efforts with buy-side OMS providers like LatentZero will increase the options in how institutions access our offering."
"Our order management software is all about helping our users make their best execution decisions as quickly and efficiently as possible. Minerva users who already benefit from easy recording of quotes, placements and executions for single or multiple orders can now gain direct access to broker algorithms, providing our users with another key weapon in the drive for best execution," said Greg Keers, Head of Execution Services at LatentZero. "Furthermore, because the algorithms are soft coded, updates can be added to the solution quickly and easily."
Instinet's offering is global, and leveraged by clients around the world, from North America to Europe and Asia. In addition to being accessible through any FIX connection, Instinet's algorithms can be accessed via the Instinet Trading Portal® and Newport™ front end, Instinet's patent-pending next-generation portfolio trading system.
LatentZero is a global technology firm that specializes in developing complete front-office solutions for the buy-side community. LatentZero's suite of products, known collectively as Capstone, is used by six of the world's top 10 asset management organisations. More than 3,500 portfolio mangers, traders and compliance officers worldwide rely on Capstone to manage assets in excess of $7.5 trillion. For additional information, please visit www.latentzero.com
About Instinet, the Unconflicted Institutional Broker
Instinet, the Unconflicted Institutional Broker, gives its customers the opportunity to use its sales-trading expertise and advanced technology tools to interact with global securities markets, improve trading and investment performance and lower overall trading costs. Through Instinet's electronic platforms, customers can access other U.S. trading venues, including NASDAQ and the NYSE, and almost 30 securities markets throughout the world. Instinet acts solely as an agent for its customers, including institutional investors, such as mutual funds, pension funds, insurance companies and hedge funds. Instinet, LLC is a subsidiary of Instinet Group Incorporated (NASDAQ: INGP) which is part of the Reuters family of companies.
©2004 Instinet, LLC. All rights reserved. INSTINET is a registered service mark in the United States and in other countries throughout the world. Instinet, LLC, member NASD/SIPC, branded as Instinet, The Unconflicted Institutional Broker, is a subsidiary of Instinet Group Incorporated which is part of the Reuters family of companies.
This document is for informational purposes only and does not constitute an offer, solicitation or recommendation with respect to the purchase or sale of any security. While Instinet believes the information contained herein is reliable, we do not guarantee its accuracy, and it may be incomplete or condensed. Instinet undertakes no obligation to update publicly any of the information contained herein, in light of new information or future events.