Thomson Financial and Instinet Announce Availability of Instinet Algorithms Via the AutEx Order Routing Network
June 27 2005 - 10:00AM
PR Newswire (US)
Thomson Financial and Instinet Announce Availability of Instinet
Algorithms Via the AutEx Order Routing Network NEW YORK, June 27
/PRNewswire-FirstCall/ -- Thomson Financial, an operating unit of
The Thomson Corporation (TSX: TOC, NYSE: TOC) and leading provider
of information and technology solutions to the worldwide financial
community, today announced that it will make Instinet's Algorithmic
Trading Strategies accessible via the Thomson AutEx Order Routing
global network. Instinet Algorithms enable clients to select and
use those rules which meet their specific requirements and
benchmarks, such as VWAP, Block Peg(SM) and Volume Participation.
Moreover, Instinet's clients can employ these rules without ever
having to worry about information leakage. "Thomson AutEx provides
connectivity and liquidity across the global trading community
giving brokers and institutions access to a breadth of execution
venues and advanced execution algorithms," said Robert Moitoso,
senior vice president and head of AutEx, Thomson Financial. "We are
pleased to offer our clients access to even more options via
Instinet. AutEx continues to be successful in leveraging its
historical strengths and providing innovative technology solutions
to both the buy-side and sell-side institutional investor
communities." "Our relationship with Thomson AutEx will make it
that much easier for the institutional investment community to
access our global algorithmic trading services," said Steve Brain,
SVP of Global Systematic Trading, Instinet, LLC. "As an agency
broker, free from the conflicts of interest that are inherent to
traditional brokers, we are able to offer algorithmic strategies
that seek to minimize market impact and help our clients meet their
trading benchmarks." Thomson AutEx Order Routing is one of a suite
of AutEx products used by trading partners to identify market
liquidity and place orders. AutEx facilitates the high-speed
transfer of multiple FIX compliant message types over a
concentrated global network. Access to the AutEx Network and
services is provided via a single connection. Thomson AutEx is the
industry's leading online real-time network and database for block
order indications and trade advertisements. The AutEx community
consists of traders at institutional and domestic institutions,
broker dealers, exchanges, ECNs and ATSs, either connecting
directly to AutEx, or through service bureaus or order management
systems. Over 800 of the world's leading brokers and institutions
rely on AutEx to access global pools of liquidity, and every day,
one million messages are transmitted on the system between buyers
and sellers. About Instinet Instinet, the global institutional
agency broker, gives its customers the opportunity to use its
sales-trading expertise and advanced technology tools to interact
with global securities markets, improve trading and investment
performance and lower overall trading costs. Through Instinet's
electronic platforms, customers can access other U.S. trading
venues, including NASDAQ and the NYSE, and almost 30 securities
markets throughout the world. Instinet acts solely as an agent for
its customers, including institutional investors, such as mutual
funds, pension funds, insurance companies and hedge funds.
Instinet, LLC is a subsidiary of Instinet Group Incorporated
(NASDAQ:INGP) which is part of the Reuters family of companies.
About Thomson Financial Thomson Financial is a US$1.73 billion
provider of information and technology solutions to the worldwide
financial community. Through the widest range of products and
services in the industry, Thomson Financial helps clients in more
than 70 countries make better decisions, be more productive and
achieve superior results. Thomson Financial is part of The Thomson
Corporation (http://www.thomson.com/), a global leader in providing
integrated information solutions to more than 20 million business
and professional customers in the fields of law, tax, accounting,
financial services, higher education, reference information,
corporate e-learning and assessment, scientific research and
healthcare. With revenues of US$8.10 billion, The Thomson
Corporation lists its common shares on the New York and Toronto
stock exchanges (NYSE: TOC; TSX: TOC.) DATASOURCE: Thomson
Financial CONTACT: Kerri Shepard, Manager, Public Relations at
Thomas Financial, +1-646-822-2077, Web site:
http://www.thomsonfinancial.com/
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