Instinet Continues Volume Growth Momentum in August
PRESS RELEASE: Instinet Continues Volume Growth Momentum in August
Agency-only broker’s US equities ADV surges to 431M shares, US listed-options ADV to 363K contracts.
NEW YORK – September 12, 2011 – Instinet Incorporated, a global leader in electronic trading and agency-only brokerage services, today announced that its US broker-dealer subsidiary, Instinet, LLC, saw its US equities ADV (average daily volume) reach 431M shares (4.09 percent overall market share*) in August, a 43 percent increase over July. For US-listed options, the firm’s ADV grew to 363K contracts (1.54 percent overall market share), which included a firm-record 613K contracts executed on August 8.
In addition, the firm continued its strong performance in both the NYSE and NASDAQ league tables, ranking in the top seven for NYSE agency program trading volume in each of the month’s five weeks and securing the sixth-ranked liquidity provider position for NASDAQ-listed securities traded on NASDAQ.
“In August we continued to see strong growth in both US equities and options volumes,” said Jonathan Kellner, President of the Americas at Instinet. “While volumes were up Street-wide, we were particularly pleased to see our core institutional flow surge to the extent that it did during the month, indicating that the buyside continues to look to Instinet as a safe harbor during periods of extreme volatility.”
* The Instinet volume, including shares traded in its crossing products, in this calculation is single counted. The overall market volume figure used is from Thomson Reuters DataScope Select.
Instinet is an electronic trading pioneer, having established the world’s first major electronic trading venue in 1969, one of the first recognized U.S. ECNs in 1997 and the first pan-European MTF in 2007. Through its subsidiaries and affiliates, Instinet operates two distinct business lines: a global network of agency-only brokers that seek to help institutions lower overall trading costs and improve investment performance through the use of innovative electronic trading products, including smart-routing, algorithms, DMA, TCA, dark pools and EMS platforms, and also provide sales trading, commission management services and independent research; and the Chi-X® Global businesses, which aim to improve the efficiency of capital markets globally by providing high-performance, low-cost alternative execution venues and the technology required to power them. Instinet is a wholly owned subsidiary of Nomura Holdings, Inc. For more information, please visit www.instinet.com or follow Instinet on Twitter at www.twitter.com/instinet.
©2011, Instinet Incorporated and its subsidiaries. All rights reserved. INSTINET is a registered trademark in the United States and other countries throughout the world. Approved for distribution: in Australia by Instinet Australia Pty Limited (ACN: 131 253 686 AFSL No: 327834), which is regulated by the Australian Securities & Investments Commission; in Canada by Instinet Canada Limited and Instinet Canada Cross Limited, members IIROC/CIPF; in Europe by Instinet Europe Limited, which is authorized and regulated by the Financial Services Authority; in Hong Kong by Instinet Pacific Limited, which is authorized and regulated by the Securities and Futures Commission of Hong Kong; in Japan by Instinet Japan Limited, which is a Financial Instrument Dealer under the Financial Instrument and Exchange Law, registered with Kanto Local Financial Bureau (Registration No. 208) and is a member of Japan Securities Dealers Association (JSDA); in Singapore by Instinet Singapore Services Private Limited, which is regulated by the Monetary Authority of Singapore, a trading member of The Singapore Exchange Securities Trading Private Limited and a clearing member of The Central Depository (Pte) Limited; and in the US by Instinet, LLC, member SIPC.
Mark Dowd | Executive Director
Global Marketing & Communications
1095 Avenue of the Americas
New York, NY 10036
Direct: 212 310 5331
Mobile: 201 376 9687
IM: mdowdatwork (AIM)
Follow Instinet on Twitter at @Instinet