Instinet Europe has joined Burgundy, a Nordic multilateral trading facility, as a trading participant. Instinet Europe will become the sixth trading participant, outside of the owner group, to connect to Burgundy.
Burgundy also hit an all time trading high in March 2010. Olof Neiglick, CEO of Burgundy said: “In March the average daily turnover was 125.9 [ millions] which meant that we beat the old all-time high record by 73.2% [old record: September 72.7 million]. This is the third month in a row with increasing turnover and it indicates that there are more trading participants with technical readiness for multi venue trading. March also held several other all-time high figures, among others the record for number of trades in one day doubled to 31,400 on 1 March (old record: 21 January 16,022) and the turnover in one day reached EUR234.6 [million] on March 16, [old record 21 July 2009: EUR 173.6 million].”
“We congratulate Burgundy on its recent growth in trading volumes. Instinet is committed to connecting to all available liquidity venues in order to give our clients the best possible execution quality. Connecting to Burgundy is another example of this commitment,” commented Richard Balarkas, CEO of Instinet Europe Limited.
Instinet Europe’s trading participant ID will be INT, and trading will commence on 13 April 2010.