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 Nyse Arca Europe.
As a result, Instinet Europe's institutional clients will be able to have immediate access to the multilateral trading facility (MTF).
"Successfully connecting to NYSE Arca Europe marks another milestone in the continued development of our smart order routing capabilities," said Richard Balarkas, CEO of Instinet Europe Limited. "Instinet's global client base will be able to access NYSE Arca Europe via sales traders, DMA or through our Instinet Execution ExpertsTM algorithms.
Added Balarkas: "As an agency broker whose sole mission is to achieve a high-quality trade execution for our clients, we wish NYSE Arca Europe every success."
Commenting on the announcement, Cees Vermaas, Executive Director, European Cash Markets, NYSE Arca Europe, said: "We want to develop the most advanced, comprehensive pan-European offering for our clients and are excited about the prospects of our new MTF. NYSE Arca Europe's offering is unique due to its integration with NYSE Euronext. We are delighted that a broker with the international stature of Instinet will be connected from day one. We are confident that the low-cost, high-speed access to our liquidity pool will be of high interest to Instinet's international client base."