.jpg)
Instinet Incorporated, a global leader in electronic trading and agency-only brokerage services, today announced that its European agency brokerage subsidiary, Instinet Europe Limited (IEL), has successfully completed conformance testing on the Turquoise trading platform. As a result, Instinet Europe’s institutional clients will be able to have immediate access to the multilateral trading facility (MTF) from its scheduled August launch date.
“Successfully connecting to Turquoise marks a major milestone in the continued development of our smart order routing capabilities,” said Richard Balarkas, CEO of Instinet Europe Limited. “From the moment Turquoise goes live, Instinet’s global client base will be able to access it via sales trader, DMA or through our Instinet Execution Experts™ algorithms. Additionally, Instinet Europe’s BlockMatch™ dark pool – itself a registered MTF – will have the ability to dynamically access Turquoise’s dark order types.”
Added Balarkas: “Turquoise’s launch heralds an important new phase of competition amongst Europe’s traditional exchanges and new MTFs, and should provide improved liquidity and prices to the international trading community. As an agency broker whose sole mission is to achieve a high-quality trade execution for our clients, we wish Eli Lederman and his team every success.”
Instinet Europe Limited 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 date1. The firm employs more than 40 sales and trading personnel in four 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 pool.
1According to the London Stock Exchange Reporting Service.
