Instinet Joins Fidessa global network

London – 24 January 2005: Instinet, The Unconflicted Institutional Broker today announced an agreement with royalblue to become a destination on the Fidessa global connectivity network. European users of Fidessa will now have access to Instinet’s unbiased, direct and efficient access to liquidity in more than 30 global equity markets.

The Fidessa client base includes both buy-side and sell-side organisations and this deal will provide them with access to Instinet’s global electronic trading services through a Fidessa front-end. In addition, clients will be able to take advantage of Instinet’s SmartRoutersm technology which is designed to achieve best execution by allowing simultaneous representation of orders in multiple venues.

Steve Harris, Head of Direct Market Access, Instinet Europe Limited says: "We are constantly looking at ways in which we can improve efficiencies and broaden our offering. As such we are pleased to be working with a leading system such as Fidessa. As an agency broker, we seek to achieve best execution on every client order and believe our fast, anonymous and direct access to the best available prices helps clients optimize their trading performance. In addition, this partnership goes a long way towards achieving STP, as institutional investors are able to execute and track the entire trade lifecycle using a single point of entry."

Simon Barnby, Business Development Manager for Fidessa, adds: "Fidessa users can now benefit from the functionality and expertise of yet another leading broker. Fidessa’s pedigree technology combined with Instinet’s agency-only business model makes a compelling solution for our users."

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