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Instinet Sets Trading Record in Asia

The firm cites uage of its Nighthawk liquidity aggregation algorithm to execute across 17 destinations in Asia.

Global agency-only broker Instinet said its Asia business unit set a firm record, both in value traded and dark liquidity aggregation, for the week of August 8-12, 2011.

The firm executed $2.7 billion USD in the non-Japan region, reaching a new firm record, and over $148 million USD across Asia in 17 alternative destinations traded via the self-directed Nighthawk liquidity aggregation algorithm

In a prepared statement, Glenn Lesko, CEO Asia, explained the driving force behind the Instinet record as an increase in market share outpacing the overall increase in market volumes. “Instinet has a 20-year track record in Asia and we have invested heavily in adapting our global electronic tools for Asia's rapidly evolving markets. I'm not surprised that in volatile times, amidst an increasingly complex market structure, clients will look to a trusted partner with experience providing cohesive and innovative trading solutions."

"Clients increasingly seek to better understand sources of risk, analyze impact, dissect executions, and improve performance in real time,” commented Bryce Kelly, Head of Asia-Pacific Product Strategy, in the release. Instinet’s Insight analytics suite — available in Newport3 or as a stand-alone application — provides clients with the tools they need to effectively judge their trading strategies and make adjustments throughout the trading day and into the future," said Bryce Kelly, Head of Asia-Pacific Product Strategy. "Large institutions in particular have adopted our event-driven algorithmic platform, Instinet Execution Experts, to maximize their liquidity access while minimizing their footprint."

Given the recent volatility in global financial markets Lesko also noted that significant volume had come through Instinet’s high-touch trading desk as well. “In times like these, there will always be an increased tendency to want to talk to a person about what’s happening and the best way to manage it,” he said in the release. “Because we offer a full suite of trading tools managed by experienced people, we’ve been able to meet the full breadth of our clients’ needs, which has created a positive experience for them and resulted in a new record for us.”

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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