Buy-side crossing network Liquidnet is now accessible through agency brokerage Instinet's execution management system (EMS). The agreement, which allows Liquidnet members to use Instinet's Newport 3 EMS to access Liquidnet's network, is intended to broaden access to the trading platform.
“Liquidnet's connectivity with Newport 3 provides our existing buy-side members throughout the world with the ability to seamlessly access our exclusive liquidity directly from their EMS, providing even more control over where their orders are executed,” said Lee Porter, head of Liquidnet Asia Pacific. “As the Liquidnet community grows, we also naturally look to increase the number of EMS providers through which our clients can access our buy-side-only liquidity, and Instinet's Newport 3 has proven to be an excellent vehicle to access our trading platform.”
Liquidnet currently provides access to 36 equities markets around the world plus London- and Luxembourg-listed global depositary receipts.
“With the ability to toggle orders on and off to venues like Liquidnet, our users are able to access significant block liquidity in a manner that minimises both information leakage and opportunity costs associated with being in the wrong place at the wrong time,” commented Jon Zanoff, global head of EMS strategy at Instinet.