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October 1, 2010

Newport EMS Adds Future and Options

By John D'Antona Jr.

Agency brokerage Instinet now lets the buyside and sellside execute trades in U.S.-listed equity options and equity futures on its desktop execution management system.

Armed with options and futures functionality, the Newport 3 EMS gives traders a multi-asset, broker-neutral front end, trade-cost analytics and messaging on a single platform, said Jon Zanoff, global head of EMS strategy at Instinet. Now, he added, traders can better control their risk in an increasingly fragmented market.

"With changes in derivatives markets roughly echoing the equity markets' recent evolution, the ability to navigate multiple asset classes through a single front end is increasingly important to the institutional trading community," Zanoff said.

The upgrade to Newport 3 was made by combining technology Instinet acquired when it purchased options-focused firm TORC Financial last year with futures trading technology it developed internally, Zanoff said.

Adding options and futures trading capabilities to Newport 3 comes on the heels of Instinet's recent launch of the Options CBX dark pool, the introduction of U.S.-listed options trading functionality within its algorithmic trading suite and its smart order-routing technology. Options orders can be routed through the dark pool for execution, Zanoff said.

 

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