Instinet Incorporated, a global leader in electronic trading and agency-only brokerage services, today announced that its European brokerage unit, Instinet Europe Limited, has been named “Best Agency Broker” in the Financial News’ “Awards for Excellence in I.T. Trading & Technology, Europe 2009”.
“The definition of agency broking has become blurred, with even some of the world’s largest banks today declaring that they provide an agency service. Therefore, we are delighted that Instinet’s pure agency-only model and trading expertise has again been recognized,” said Richard Balarkas, CEO of Instinet Europe. “Since its inception in 1969, Instinet has held true to its model, which means there are no conflicts of interest or opportunities for us to manufacture revenue from client liquidity. We’re proud that after 40 years, Instinet remains at the forefront of agency broking and trading technology.”
The Financial News award is Instinet’s fourth such accolade in 2009. In June, the firm’s European smart order routing technology won The Banker magazine’s “Innovation in Dealing Technology” award, in April Instinet was named “Best Electronic Brokerage House” by The Asset magazine and in March Instinet was recognized for providing the “Best Execution Management System” by the readers of World Finance magazine.