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Joanna Fields
Traders Magazine Online News

Navigating Cybersecurity on a Stretch of "Regulatory Rapids"

In this shared commentary, Aplomb Strategies writes that when considering a firm’s governance structure, a holistic approach makes the most sense.

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July 10, 2009

Instinet Upgrades Newport EMS

By Nina Mehta

Instinet has launched Newport 3, an upgraded version of its Newport execution management system, which is used by 1,200 firms globally. In addition to boosting the system's performance and functionality, the broker has broadened the trading-related tasks the EMS can perform. "The risk manager can look at exposures country by country, or the head trader can look at execution prices vs. their benchmarks," said Jon Zanoff, global head of EMS strategy at Instinet. "Significant vantage points on the order flow can easily be configured by the customer."

In the current trading environment, what customers want most are message throughput, broker neutrality and the integration of real-time analytics, all of which Newport offers, said Frank Freitas, global head of product strategy. The EMS is "truly broker-neutral," and not just a "multibroker" platform, he said. Algos with a full suite of parameters from 15 brokers are accessible through the system.

Newport 3 also has a fuller set of transaction-cost analytics, including an augmented market-impact model. "While a trade is in-flight, a trader can now look at what he's seeing in terms of realized impact vs. the estimate," Zanoff said. The EMS also includes new data-visualization tools that help traders grasp TCA results more quickly. "Clients wanted actionable feedback, and they wanted it quickly," Zanoff said.

One of the gaps in Instinet's Newport offering remains the lack of options and futures trading. The broker said it plans to add listed options as well as futures trading to the platform by the end of this year.

 

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