Instinet, a global securities firm and wholly-owned subsidiary of Nomura Holdings, Inc., today announced that it has been ranked first among brokers1 for execution quality in overall trading of both NASDAQ-listed and NYSE/regional-listed stocks in 2007, according to Investment Technology Group’s Plexus BrokerEDGE Monitor TM survey, which covered the four quarters through 4Q07.
Altogether Instinet ranked first in 18 of Plexus’ 28 measurement categories, including core areas such as block trades and trades in small-cap stocks. This was more than double the number of first-place rankings of any competitor (see tables below).
“More of the listed market is being executed electronically, and that plays to Instinet’s strengths,” noted Michael Plunkett, President of Instinet, LLC. “Our high-speed platform, broad connectivity and agency trading model is delivering new value to our clients in the listed market as it has always done in the OTC market.”
Top 10 Firms for Transaction Cost Savings in 2007: Selected NASDAQ Trading Categories
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Top 10 Firms for Transaction Cost Savings in 2007: Selected NYSE Trading Categories
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1. The Plexus broker universe includes over 1,500 firms. This presentation excludes firms whose survey data represented less than 2% of Plexus' total sample by dollar value traded for NASDAQ-listed trades and 1% for NYSE/regional-listed trades.
2. “VA = “Value Added” = total trade cost minus the Plexus benchmark for each category in basis points. Total trade cost = average difference between execution price and market price at the time the order was released to the broker. The higher valued added, the greater the cost saving and the better execution quality.