Instinet Receives Full Australian Exchange Membership

Instinet has established its Instinet Australia Pty. Ltd, a full Australian Securities Exchange (ASX) member and is now able to service domestic Australian clients through a new onshore sales and trading desk.

Glenn Lesko, CEO of Instinet in Asia, said in a statement, “Since being granted the first remote participation license in September 2007, we’ve grown to become the 11th largest institutional broker in Australia. With our electronic trading tools, sales trading capabilities, and access to global liquidity, we are clearly gaining momentum in Australia, and by coming onshore we have realized the next step in our plans for growth.”

Added John Fildes, COO of Instinet in Asia, “Our Australian equities trading team that has operated out of Hong Kong since 2007 will now move to Sydney, while we expect to add several new traders in the coming months.”

Instinet previously had traded for domestic Australian clients through its Hong Kong-based Instinet Pacific Limited subsidiary through its remote ASX membership.