Published On: Fri, Dec 17th, 2010

Instinet Sets Newport 3 Trade Value Record in Asia-Pacific

Instinet Incorporated, a global leader in electronic trading and agency-only brokerage services, announced December 17 that for the week of 6-10 December, its Asia-Pacific clients’ trading value executed through the Newport® 3 EMS (execution management system) reached a firm record. Specifically:
• Over $4 billion USD was traded through the platform;
• Over $2 billion USD was traded through the platform in a broker neutral capacity, with volume routed to 22 other brokers in the region;
• Clients trades were executed in 12 markets throughout the region: Australia, China*, Hong Kong, India*, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan and Thailand.

Bryce Kelly, Head of Asia-Pacific Product Strategy, said that Instinet’s focus on augmenting its high-touch trading business with electronic tools had led to a significant uptick in client-directed volumes through Newport 3.

“This type of volume demonstrates that Newport 3 is not only a world-class EMS, but that it has also arrived as a world-class Asian EMS,” he said. “Our focus on enhancing the platform this year with new region-specific analytics (Insight™) and algorithms (Execution Experts™) appears to be paying off for us and our clients.

“The breadth of Newport 3’s destinations, combined with the stability and robustness of the system, have created a positive client experience leading to this record week,” Kelly added.

Glenn Lesko, CEO for Instinet in Asia, said the firm had enjoyed significant growth on the Newport 3 platform in Asia-Pacific throughout 2010 and predicted further growth in 2011.

“The above statistics represent only what’s been executed through our EMS,” he said. “We have considerable volumes of orders residing inside Newport 3, as well as a large agency-only brokerage business. All told this represents very significant liquidity within our platform. In the coming months we plan to release new solutions that will offer clients the ability to interact with liquidity directly from the EMS blotter through Nighthawk®, our global dark liquidity aggregation algorithm.”

Newport 3 is a premier multi-asset, broker-neutral execution management system. It serves as the primary gateway to Instinet’s entire product portfolio and enables users to understand risk, empower trading teams, customize trading strategies, execute globally, monitor progress and analyze performance. Earlier this year, Instinet was named “Best EMS Provider” for Newport 3 by the readers of Waters magazine.

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