Thomson Financial is to distribute Instinet’s Algorithmic Trading Strategies over its AutEx order routing network.
Instinet Algorithms aims to enable clients to select and use rules which meet specific requirements and benchmarks, such as VWAP, Block Peg and Volume Participation. Instinet guarantees confidentiality to users.
“Thomson AutEx provides connectivity and liquidity across the global trading community giving brokers and institutions access to a breadth of execution venues and advanced execution algorithms,” says Robert Moitoso, senior vice president and head of AutEx, Thomson Financial. “We are pleased to offer our clients access to even more options via Instinet. AutEx continues to be successful in leveraging its historical strengths and providing innovative technology solutions to both the buy-side and sell-side institutional investor communities.”
“Our relationship with Thomson AutEx will make it that much easier for the institutional investment community to access our global algorithmic trading services,” adds Steve Brain, SVP of Global Systematic Trading, Instinet LLC. “As an agency broker, free from the conflicts of interest that are inherent to traditional brokers, we are able to offer algorithmic strategies that seek to minimize market impact and help our clients meet their trading benchmarks.”
Thomson AutEx Order Routing is one of the AutEx products used by trading partners to identify market liquidity and place orders. AutEx aims to facilitate the high-speed transfer of multiple FIX compliant message types over a concentrated global network. Access to the AutEx Network and services is provided via a single connection.
Thomson AutEx is an online network and database for block order indications and trade advertisements. Its users include traders at institutional and domestic institutions, broker dealers, exchanges, ECNs and ATSs, either connecting directly to AutEx, or through service bureaus or order management systems.
Thomson claims “over 800” brokers and institutional investors use AutEx to access pools of liquidity, and that an average of one million messages a day are transmitted on the system between buyers and sellers.