Source: Instinet Europe
Instinet Incorporated, a global leader in electronic trading and agency-only brokerage services, today announced that its European agency brokerage subsidiary, Instinet Europe Limited, has successfully completed conformance testing on SmartPool, a new non-displayed Multi-lateral Trading Facility (MTF) for block trading launched today by NYSE Euronext. As a result, Instinet Europe's institutional clients will be able to have immediate access to it.
"Successfully connecting to SmartPool is another example of Instinet's worldwide commitment to liquidity access for our clients, be it a dark pool or displayed market, MTF or exchange," said Richard Balarkas, CEO of Instinet Europe Limited. "Starting today, Instinet's global client base will be able to access SmartPool via sales traders, DMA or through our Instinet Execution Experts™ algorithms."
Added Balarkas: "SmartPool's launch heralds an important new phase of competition amongst Europe's traditional exchanges and new MTFs, and should provide improved liquidity and prices to the international trading community. As an agency broker whose sole mission is to achieve high-quality trade execution for our clients, we wish SmartPool every success."
Commenting on the announcement, Yvette Roozenbeek, Acting CEO of SmartPool, said "We are delighted that a broker with the international reach of Instinet is connected from day one. We are confident that access to our liquidity pool will offer price improvement opportunities for Instinet's international client base."