Instinet, says its algorithmic trading services can now be accessed by clients through LatentZero’s Minerva trading and order management system.
Instinet Algorithmic Trading enables clients to select and use those rules which meet their specific requirements and benchmarks, such as VWAP, Block PegSM and Volume Participation. Moreover, Instinet’s clients can employ these rules without ever having to worry about information leakage.
“We believe that our relationship with LatentZero represents a significant benefit to institutional investors who want to use our unconflicted algorithmic trading platform,” says Steve Brain, Global Head of Systematic Trading, Instinet, LLC. “As we continue to grow our algorithmic trading business, joint efforts with buy-side OMS providers like LatentZero will increase the options in how institutions access our offering.”
“Our order management software is all about helping our users make their best execution decisions as quickly and efficiently as possible. Minerva users who already benefit from easy recording of quotes, placements and executions for single or multiple orders can now gain direct access to broker algorithms, providing our users with another key weapon in the drive for best execution,” adds Greg Keers, Head of Execution Services at LatentZero. “Furthermore, because the algorithms are soft coded, updates can be added to the solution quickly and easily.”
In addition to being accessible through any FIX connection, Instinet’s algorithms can be accessed via the Instinet Trading Portal and Newport front end, Instinet’s patent-pending next-generation portfolio trading system.