European agency brokerage subsidiary, Instinet Europe Limited, has completed conformance testing on NASDAQ OMX 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 NASDAQ OMX Europe marks another major milestone in the continued development of our smart order routing capabilities,” says Richard Balarkas, CEO of Instinet Europe Limited. “Instinet’s global client base will be able to access NASDAQ OMX Europe via sales traders, DMA or through our Instinet Execution Experts algorithms. NASDAQ OMX Europe’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 a high-quality trade execution for our clients, we wish NASDAQ OMX Europe every success.”
“We are delighted that a broker with the international stature of Instinet will be connected from day one,” says Charlotte Crosswell, president at Nasdaq OMX Europe. “We are confident that access to our liquidity pool will offer price improvement opportunities for Instinet’s international client base.”
D.C.