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.
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."