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Instinet Europe to provide firms with immediate access to NYSE Euronext’s Smartpool

Posted: 03 February 2009

nstinet has reported that its European agency brokerage subsidiary has successfully completed conformance testing on SmartPool, a new non-displayed multi-lateral trading Facility (MTF) for block trading, which was launched today by NYSE Euronext.

As a result, Instinet Europe’s institutional clients will be able to have immediate access to SmartPool.

“Successfully connecting to SmartPool is another example of Instinet’s worldwide commitment to liquidity access for our clients, be it a dark pool or displayed market, MTF or exchange,” said Richard Balarkas, CEO of Instinet Europe. “Starting today, Instinet’s global client base will be able to access SmartPool via sales traders, DMA or through our Instinet Execution Experts algorithms.”

SmartPool’s launch could herald an important new phase of competition amongst Europe’s traditional exchanges and new MTFs, and should provide improved liquidity and prices to the international trading community.

“We are delighted that a broker with the international reach of Instinet is connected from day one,” said Yvette Roozenbeek, the acting CEO of SmartPool. “We are confident that access to our liquidity pool will offer price improvement opportunities for Instinet’s international client base.”

Instinet Europe is one of Europe’s largest agency-only brokerages and is a top 10 broker by market share ranking on the London Stock Exchange. The firm employs more than 40 sales and trading personnel in three European locations.

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