Instinet Europe Set To Begin Trading On Turquoise At Launch

Instinet Incorporated, an electronic trading and agency only brokerage services provider, announces that its European agency brokerage subsidiary, Instinet Europe Limited (IEL), has successfully completed conformance testing on the Turquoise trading platform. As a result, Instinet Europe's institutional clients will

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Instinet Incorporated, an electronic trading and agency-only brokerage services provider, announces that its European agency brokerage subsidiary, Instinet Europe Limited (IEL), has successfully completed conformance testing on the Turquoise trading platform. As a result, Instinet Europe’s institutional clients will be able to have immediate access to the multilateral trading facility (MTF) from its scheduled August launch date.

“Successfully connecting to Turquoise marks a major milestone in the continued development of our smart order routing capabilities,” says Richard Balarkas, CEO of Instinet Europe Limited. “From the moment Turquoise goes live, Instinet’s global client base will be able to access it via sales trader, DMA or through our Instinet Execution Experts algorithms. Additionally, Instinet Europe’s BlockMatch dark pool itself a registered MTF will have the ability to dynamically access Turquoise’s dark order types.”

“Turquoise’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,” says Added Balarkas. “As an agency broker whose sole mission is to achieve a high-quality trade execution for our clients, we wish Eli Lederman and his team every success.”

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