Instinet has moved to expand the liquidity aggregation capabilities on its BlockMatch venue as it looks to meet buy-side client demand for greater access to bilateral flow.
Salvador Rodriguez
The expansion comes as part of a strategic rebrand of its RFQ venue which will now be known as BlockMatch Select. Instinet’s BlockMatch venue will now include its Dark order book, Select RFQ order book and BlockMatch NT.
BlockMatch Select will offer connectivity via Instinet’s execution platform using modular workflow, with the option to target tailored liquidity on a regulated MTF platform.
“This is so much more than aggregation of ELP liquidity which technically we have been doing since Mifid II inception in 2018. Our extensive experience over this period has ensured access to the best possible SI feeds from our partners,” Simon Dove, head of liquidity at Instinet, told The TRADE.
“This is setting a new standard for bilateral liquidity optimisation using our execution platform and BlockMatch Select (MTF). We were asked and have delivered an enhanced client workflow by providing automated access to bilateral relationships and other complimentary liquidity sources to curating a premium liquidity experience tailored to our client’s needs utilising BlockMatch Select (MTF).”
The agency broker confirmed the decision follows client demand for greater capabilities in the bilateral space and more flexibility in liquidity access.
“In response to our clients’ needs, we’ve developed a solution that tackles Europe’s persistent liquidity challenges,” said Salvador Rodriguez, EMEA head of global execution services.
“Our innovative workflow, leverages Instinet’s proven execution platform, extensive liquidity access, and far-reaching distribution network to seamlessly connect diverse industry participants.”