Instinet Incorporated, engaged in electronic trading and agency-only brokerage services, highlights Q4 2008 volume statistics for its US-based subsidiary, Instinet, LLC.
Overall average daily trading volume, average daily CBXTM volume and average daily volume executed through the Instinet Execution ExpertsTM algorithmic trading platform for the quarter all reached record levels for the 40-year old firm.
Average daily volume of Instinet LLC reached 514, 502, 076 shares. The year-over-year change is +70%. Average daily volume of Instinet Execution Experts algorithms reached 100, 014, 382 shares. The year-over-year change is +135%.
“Amidst unprecedented volatility in the U.S. markets, we’ve been very fortunate to have a loyal and growing client base that recognizes the value of our agency-only brokerage model,” says Anthony Abenante, co-CEO, Instinet Incorporated. “As 2009 begins, we remain steadfastly committed to providing an ever-improving suite of products and services to assist the buy-side in achieving best execution.”
L.D.