Instinet, a global equities execution agent, today added international market access to Instinet Trading Portal, a global front end for block and active traders.
The new version supports advanced order types and market depth for over 40 global markets in 27 countries, including worldwide exchanges, ECNs and Instinet's Continuous Block Crossing (CBX), the firm's buyside-only securities crossing network which runs throughout the day and is accessible only to Instinet clients.
"Given their tremendous growth recently, overseas markets have become increasingly appealing to U.S.-based institutions," said Mike Plunkett, President, North America, Instinet. "While our client base has been able to trade internationally through our Newport program trading front end for some time, we're excited to now provide access through Portal, which is a very popular technology on buyside trading desks."
Instinet Trading Portal - Key Features
- Upstairs Liquidity and Market Opportunities: Portal uses Instinet's ProActive SmartRouter to simultaneously represent orders on multiple domestic market venues and DMA to international exchanges and ECNs. It also allows traders to place orders directly into Instinet's US securities crossing networks - pre-market VWAP, intra-day (IDX) and post-market (LDX) - where orders are matched anonymously at specified prices with zero market impact.
- Access to Algorithms: Portal offers access to Instinet's full range of domestic and international algorithmic strategies for trading against VWAP and arrival price, block-pegging, concealing market presence, reducing implementation shortfall and others.
- Advanced Order Types: Portal allows traders to employ advanced order types such as market pegging, reserve size orders, hidden orders, auction orders and discretionary orders in all major North American, European and Asian markets where applicable.
- Sales Trading: Portal enables clients to send orders directly to Instinet's pure agency sales trading desks in New York, London, Toronto, Tokyo and Hong Kong.
- FIX-Compliant: Portal is FIX-compliant, allowing users to stage orders from their OMS to Portal's blotter.