Instinet adds OneTicket functionality to Newport
Instinet Incorporated, an independent, global agency-only broker, today announced the addition of OneTicket to Newport, the firm’s award-winning global, multi-asset, broker-neutral EMS.
With the unique OneTicket functionality, users are able to interact with similar broker algorithmic strategies in a uniform manner. Parameters are set once and normalized across multiple counterparties via a universal destination ticket, which also eases transaction cost analysis comparisons.
The addition of OneTicket comes as part of the Newport 3.15 rollout. Other significant workflow enhancements in the release include:
• Ability to set a range of default “Secondary Symbols” against which the primary symbol’s price is compared. This provides a simplified view of the relative relationships between, for example, an ADR and its ORD, a stock and its options or the fungible symbol in US/Canadian inter-listed security.
• Constraint functionality has been expanded to search for the opposite side of an order elsewhere on the user’s desk. This enables users to internalize orders before sending to the market or meet compliance requirements by verifying which brokers have already received orders in a particular name.
• Crossing Tickets now support US-listed options—both for single-leg and multi-leg orders—by incorporating a broad range of exchange-specific order types for facilitation.
• Addition of Futures trading capabilities in the key Asia-Pacific markets of Australia, Hong Kong, Japan, Korea and Singapore.
Erin Sheehan, Product Strategist for Newport, commented: “As Newport’s user base continues to evolve and grow, the platform’s flexibility and agility have proved invaluable in helping us meet the needs of what is now a very diverse set of clients. For our buy-side users, one of the bigger workflow challenges is contending with disparate terminologies and parameter settings found on their various destination tickets. OneTicket solves this issue by creating a single, consistent ticket interface, thereby easing a logistical challenge and reducing operational risk.”