Instinet becomes ASX member
Instinet, a global agency broker and wholly-owned subsidiary of Nomura Holdings, Inc., today announced it has secured full membership on the Australian Securities Exchange (ASX), effective immediately.
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With the membership, Instinet can now offer its full suite of global execution services - including its alternative trading platforms, global algorithms and execution management systems - to Australian trading and investment institutions. Until today, Instinet has offered Australian market access to its overseas clients through various broker/dealer partners and provided Australian institutions access to international markets. However, it was unable to service Australian fund managers' domestic trading and portfolio management requirements directly as it was not a member of the ASX.
"We are extremely excited about the opportunities that Australian Securities Exchange membership presents," said John Fildes, Managing Director, Instinet Pacific Ltd. "Australia is a large-scale capital market and Australian fund managers are among the most sophisticated in deploying effective investment and trading strategies. With access to 60 securities markets worldwide, a suite of sophisticated trading tools and the liquidity of 1,500 of the world's largest institutions, we believe Instinet offers them an extremely compelling offering."