Instinet, a global agency broker and wholly-owned subsidiary of Nomura Holdings Inc., has launched T*Share, a new program which allows institutional clients to trade with multiple brokers while consolidating their commission credits on Instinet’s new Plazma commission management platform.
T*Share aims to simplify the commission management process for both broker-dealers and institutions. For brokers, T*Share may provide their institutional clients with increased incentives to trade with them, and represent an affordable way of outsourcing commission management administration.
Regarding institutions, T*Share will expand trades eligible for commission credit to include trades “away” from Instinet at participating brokers, while also potentially improving workflow efficiency. In addition, institutional clients will also be able to manage their commission accounts on Plazma, Instinet’s new web-based commission management platform.
“Instinet has long been a pioneer in the commission management space, which has helped us build one of the largest and most technologically-sophisticated offerings available today. We see T*Share as a boon to both institutions and our sell-side partners given its ability to provide choice, transparency and, ultimately, total reliance on execution quality as the determining factor in trading decisions,” says Michael Plunkett, president of North America at Instinet.