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Instinet Sets US Options Volume Record in January

Firm sets single-day firm volume record of 1.48M contracts and single-day market share record of 3.10% 

Instinet Incorporated today announced a record options volume month for its US broker dealer subsidiary, Instinet, LLC, in January 2014.

During the month, the firm executed 18.55M contacts, an average of 884K per day. This included a single-day firm volume record of 1.48M contracts on January 17, and a single-day firm market share record of 3.10% on January 21.

“Over the past several quarters, we’ve worked to optimize every facet of our product suite for multi-asset trading. This has helped us make significant inroads with the institutional options trading community, resulting in a steady increase in trading volumes and market share,” said Tom Whelan, Head of Instinet’s US Institutional Derivatives Desk. “We very much believe our derivatives offering can continue to be a source of growth for the firm, and are committed to maintaining our strategic focus on multi-asset trading.”

Instinet’s multi-asset platform includes the following:

  • High-Touch Trading: Instinet’s dedicated agency-only derivatives traders leverage Instinet’s full suite of advanced tools to trade a range of complex order strategies, including event-driven opportunities. The experienced team is able to source natural liquidity among Instinet’s institutional client base, and also provide access to third-party liquidity as necessary.
  • Front-Ends: Instinet provides two primary trading platforms:
    • Newport®: A global, broker-neutral, multi-asset EMS with robust spread trading capabilities and Greek analytics.
    • TOP: A broker-neutral volatility modeling front-end with execution capabilities, portfolio analytics and Prime Broker aggregation functionality.
  • Commission Management: Through the web-based Plazma® platform, clients may earn commission credits on Options trades executed by Instinet.
  • Algorithmic Trading: The Execution Experts’® Cobra Options suite provides a group of tactical strategies that enable stealth trading, price improvement and passive liquidity sourcing.
  • Liquidity Sourcing: Instinet’s Spreads SmartRouter, which works in conjunction with Instinet’s options algorithms, accesses all exchange Complex Order Books, enabling clients to execute both single leg and complex orders with minimal market impact.
  • Broker Dealer Solutions: Instinet’s LSET platform provides ultra-low latency, co-located DMA solutions for the US options markets.

As the equity execution services arm of the Nomura Group, Instinet Incorporated’s subsidiaries provide independent, agency-only brokerage services to clients throughout the world. Through its advanced suite of electronic trading tools, experienced high-touch trading group and unparalleled access to insightful content and unique agency-only liquidity, Instinet helps institutions lower overall trading costs and ultimately improve investment performance. Over the course of its 40+ year history, Instinet has introduced a range of now industry-standard trading technologies as well as the world’s first major electronic trading venue, one of the first U.S. ECNs and, most recently, the Chi-X businesses.