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"Instinet has elected to post quotes in their most active securities on the NASDAQ InterMarket," said Dean Furbush, executive vice president, NASDAQ Transaction Services. "They are a growing source of liquidity in NYSE and Amex-listed stocks and we are pleased that they are joining the increasing liquidity provided by Market Makers and ECNs that quote and trade on InterMarket."
"Instinet is committed to providing institutional investors with the most effective and efficient execution services in the world. We believe the enhanced liquidity and transparency offered in these instruments will be beneficial to our clients and the market as a whole. As a result of our initiatives today, we hope to attract even higher levels of liquidity to the Instinet platform," commented Jean-Marc Bouhelier, Instinet's Chief Operating Officer.
"NASDAQ market participants can gain access to any of the quotes in NASDAQ InterMarket through the use of the Computer Assisted Execution System (CAES). CAES provides users with automated, near instantaneous executions in NYSE- and Amex-listed securities," said Erich Buckenmaier, director for NASDAQ InterMarket.
About Nasdaq InterMarket
NASDAQ InterMarket comprises NASDAQ market participants, such as Market Makers and ECNs, which quote and trade exchange-listed securities using their proprietary systems, NASDAQ technology, and the InterMarket Trading System (ITS). Through the NASDAQ Computer Assisted Execution System (CAES), participants are linked with each other and gain immediate access to each other's quotations. CAES also provides participants a means of accessing ITS, a system developed to link the exchanges and the NASDAQ InterMarket. Today, NASDAQ market participants trade a combined 11 percent of NYSE Composite shares through NASDAQ InterMarket.
About Instinet
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. Instinet 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. Through its electronic platforms, Instinet customers also can access over 40 securities markets throughout the world, including NASDAQ, the NYSE, and stock exchanges in Frankfurt, Hong Kong, London, Paris, Sydney, Tokyo, Toronto and Zurich. Instinet also provide its customers with access to research, as well as various informational and decision-making tools. Instinet acts solely as an agent for customers and does not trade securities for our own account or maintain inventories of securities for sale. For more information, please go to www.instinet.com. Instinet Corporation, member NASD/SIPC, is a subsidiary of Instinet Group Incorporated.
About NASDAQ
NASDAQ (OTCBB:NDAQ) is the world's largest electronic stock market. With approximately 3,800 companies, NASDAQ lists more companies and trades more shares per day than any other U.S. market. Over the past five years, NASDAQ has outpaced all other U.S. markets in listing IPOs. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology industries. NASDAQ is a key driver of capital formation. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQ.com or the NASDAQ NewsroomSM at www.NASDAQNews.com.
