Instinet Incorporated, a global provider of electronic trading and agency-only brokerage services, announced that it has been ranked first for execution quality in overall US stock trading over the four-quarter period ended March 31, 2008, as measured by value-added, according to Investment Technology Group, Inc.’s (ITG) ITG Broker Edge report.
“We’re pleased to once again find ourselves atop ITG’s execution quality rankings,” says Michael Plunkett, President of Instinet, LLC, Instinet Incorporated’s US-based agency brokerage subsidiary. “We believe that our technology, open approach to connectivity partnerships and agency trading model is helping us to deliver exceptional value to our global client base, evidenced by the record U.S. trading volumes we are currently seeing.”
Instinet ranked first in nine out of the 14 ITG Broker Edge trading categories, more than any other broker in the survey, and was among the top five firms in 12 out of the 14 categories. The report, previously known as the Plexus BrokerEDGE Monitor survey, covered over two million trades executed by 1,500 brokers for around 100 institutional traders. The ITG Broker Edge survey no longer separates trading in Nasdaq-listed and NYSE-listed stocks into distinct categories, but measures transaction quality across all US exchange-listed stocks.