Instinet, The Institutional Broker, today announced that it has increased its market connections with the addition of direct membership to the Oslo and Copenhagen Stock Exchanges.
As of 27 May, Instinet will offer fast, anonymous, fully automated exchange access to these equity markets through the OMX SAXESS platform.
Instinet currently offers direct membership to the Helsinki and Stockholm Stock Exchanges and the addition of Oslo and Copenhagen expands Instinet's offering in the region.
Natan Tiefenbrun, President of Instinet's International Division commented, "The provision of a direct link to Oslo and Copenhagen forms part of our ongoing strategy to offer the fastest and lowest cost direct access to European stock exchanges. The speed of our linkages is critical to delivering best execution for DMA, algorithmic and portfolio trading clients, whether they access Instinet from a FIX-compliant order or trade management system, or from one of Instinet's proprietary front ends."
In addition to routing orders directly to these exchanges, clients can also trade on Instinet's own Continuous Block Crossing platform (CBXsm). CBXsm is a peer-to-peer block trading system that facilitates direct and anonymous negotiation amongst Instinet's network of institutional customers.
Deputy President of OMS Exchanges, Hans-Ole Jochumsen says: "We are proud to welcome one of the most important players on the global stock exchange marketplaces to the Copenhagen Stock Exchange. This confirms that we have pursued the right strategy of being a member of the NOREX Alliance and part of OMX Exchanges thus basing our businesses on the same efficient trading platform, which supports the attractiveness of our markets. Instinet is the third new member at the Copenhagen Stock Exchange since we merged with OMX, and there is therefore great potential for increasing liquidity."
President and CEO of Oslo Børs, Sven Arild Andersen, says: "We are very pleased to welcome Instinet as a new member of Oslo Børs. An extended network of members and investors adds liquidity to the Norwegian market, and Instinet's presence will definitely contribute to this."