Instinet Europe Wins Financial News “Best Agency Broker” Award
Published September 25th, 2009
Instinet Incorporated, a global leader in electronic trading and agency-only brokerage services, today announced that its European brokerage unit, Instinet Europe Limited, has been named “Best Agency Broker” in the Financial News’ “Awards for Excellence in I.T. Trading & Technology, Europe 2009”.
“The definition of agency broking has become blurred, with even some of the world’s largest banks today declaring that they provide an agency service. Therefore, we are delighted that Instinet’s pure agency-only model and trading expertise has again been recognized,” said Richard Balarkas, CEO of Instinet Europe. “Since its inception in 1969, Instinet has held true to its model, which means there are no conflicts of interest or opportunities for us to manufacture revenue from client liquidity. We’re proud that after 40 years, Instinet remains at the forefront of agency broking and trading technology.”
The Financial News award is Instinet’s fourth such accolade in 2009. In June, the firm’s European smart order routing technology won The Banker magazine’s “Innovation in Dealing Technology” award, in April Instinet was named “Best Electronic Brokerage House” by The Asset magazine and in March Instinet was recognized for providing the “Best Execution Management System” by the readers of World Finance magazine.
About Instinet
Instinet is an electronic trading pioneer, having established the world’s first significant electronic trading venue in 1969, one of the first recognized U.S. ECNs in 1997 and the first pan-European MTF in 2007. Through its subsidiaries and affiliates, Instinet operates two distinct business lines: a global network of agency-only brokers that seek to help institutions lower overall trading costs and improve investment performance through the use of innovative electronic trading products, including smart-routing, algorithms, DMA, dark pools and EMS platforms, and also provide sales trading, commission management services and independent research; and the Chi-X® trading systems, which aim to improve the efficiency of capital markets globally by providing high-performance, low-cost alternative execution venues. Instinet is a wholly-owned subsidiary of Nomura Holdings, Inc. For more information, please visit www.instinet.com.
