This investment underscores Instinet's continual pursuit of strategic investments in companies that provide investors and issuers with better tools to achieve their trading objectives. In connection with this investment, Instinet will become StarMine's preferred soft dollar broker. Instinet clients will have access to StarMine's array of products through Instinet Soft Dollar Services. The Instinet Soft Dollar team services over 450 U.S.-based clients trading both international and U.S. equities and provides clients with value-added research.
"Instinet has always been committed to offering its clients a wide variety of unbiased, mission-critical research and value-added services," said Douglas M. Atkin, President and CEO of Instinet. "StarMine's objective approach to measuring Wall Street analyst performance and deriving more accurate forecasts for earnings enhances the value of Instinet's brokerage offering to institutional customers."
"Instinet's investment validates the unique quality of our analyst- and stock-based research offerings," said Joe Gatto, founder and CEO of StarMine. "We are excited to collaborate with Instinet, which will help us continue our outreach to the global institutional market."
StarMine (www.StarMine.com) provides independent, objective ratings of Wall Street equity analysts by measuring them on their stock-picking performance and the accuracy of their earnings forecasts. StarMine provides institutional investors with a wealth of analyst-based research, including SmartEstimates-better earnings forecasts than the Wall Street consensus-which are derived by putting more weight on the most accurate analysts. StarMine's success rate at predicting earnings surprises approaches 75 percent. StarMine is a licensed redistributor of Thomson Financial I/B/E/S and First Call data. A privately-held company founded in 1998, StarMine is based in San Francisco with offices in New York, Boston, and Denver.
