On Monday, Instinet, an agency-only broker and wholly-owned subsidiary of Nomura Holdings, launched T*Share, a new program which allows institutional clients to trade with multiple brokers while consolidating their commission credits on Instinet’s new Plazma commission management platform.
T*Share, which is available now, aims to simplify the commission management process for both brokers and institutions, says Instinet. T*Share will expand the universe of trades eligible for commission credit to include those executed 'away' from Instinet at participating brokers, while also reducing the need for multiple administrative relationships. Additionally, the firm says institutional clients will be able to manage their commission accounts on Plazma, which provides online payments capabilities, complete access to credit and debit records, and charting and analysis.
“We see T*Share as a boon to both institutions and our sell-side partners given its ability to provide choice and transparency," says Michael Plunkett, president of North America, Instinet.