ADP connects to INET
ADP Brokerage Services Group, a division of Automatic Data Processing, Inc. (NYSE:ADP), announced today that it is offering its clients access to INET (Inet ATS, Inc.), a subsidiary of Instinet Group Incorporated (NASDAQ:INGP), and one of the largest electronic marketplaces for U.S. over-the-counter securities, as a new execution point on its order processing network.
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With the availability of the INET connection, clients can immediately begin their individual setup and testing process to establish INET as a destination on their ADP Order Routing networks. The addition of INET provides ADP's order processing clients with the ability to post their customers' limit orders in the marketplace that currently holds a 25 percent share of the total U.S. market in NASDAQ-listed equity trading.
"We believe ADP's clients stand to benefit enormously," said Alex Goor, President, Inet ATS, Inc. "By placing their limit orders on one of the largest electronic marketplaces, ADP's clients have the opportunity to fulfill their best execution requirements, while at the same time receiving rebates for trades that add liquidity to the marketplace."
"As always, we strive to provide our clients with the best possible products and World Class service. By proactively expanding our network of execution points, we are giving our clients more options to meet their needs," said Marianne Brown, Senior Vice President and General Manager, ADP Brokerage Processing Services.