Nomura completes acquisition of Instinet for $1.2 billion

Nomura Holdings has completed the acquisition of agency brokerage Instinet for a final price of US$1.2 billion. Nomura says it is looking to Instinet to help it develop the algorithmic and other sophisticated trading technologies and execution services demanded by hedge funds in particular, but increasingly by institutional fund managers as well.

ITG announces European revenues grew 20 % in 2006

Investment Technology Group, the technology-based equity trading services group, announced yesterday that revenues in Europe for the year ended December 31, 2006, were 20 % ahead of the previous year.

Horizon Investment Management selects INDATA IMS

INDATA, a provider of software solutions for buy-side firms, yesterday announced that Horizon Investment Services has selected its investment management system (IMS) for trade order management, portfolio accounting and performance measurement for its front-to-back office needs.

Euronext to offer best execution algorithm for MiFID compliance

Euronext, the European stock exchange group planning a merger with the New York Stock Exchange (NYSE), says it is introducing a best execution algorithm, real-time dissemination of off-order book trades and new transaction reporting services as part of preparations for the implementation of the Markets in Financial Instruments Directive (MiFID) in November 2007.

Dark pools capturing a tenth of liquidity, says TABB Group

"Dark pools of liquidity are literally everywhere," says senior research analyst Jeromee Johnson, co-author of a just-released TABB Group research note, "Groping in the Dark: Navigating Crossing Networks and Other Dark Pools of Liquidity."

Data vendor Perfect Information appoints DPC Data as its US agent

The UK-based financial data provider Perfect Information (PI), which is owned by Centaur Media, has appointed DPC DATA to support its customers in the United States. DPC DATA Inc. is a provider of data-related outsourced services, and a publisher of municipal securities reference data and disclosure documents.