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.
“Instinet brings with it leading-edge execution infrastructure and technologies as well as extensive expertise in execution services,” says Nobuyuki Koga, Nomura President and CEO. “Combining this with our high-quality research coverage will allow us to deliver optimal solutions to meet the diverse execution needs of our clients. We are now looking to expand our business and seek further growth by achieving synergies with Nomura Group’s strong client base.”
“As one of the world’s foremost global agency brokers, Instinet is excited to officially join the Nomura family,” adds Ed Nicoll, Chairman of Instinet. “We believe that institutional clients around the world will find great value in the combination of our electronic execution tools with Nomura’s suite of research and execution services and global liquidity.”
Nomura says the new board of directors of Instinet will consist of:
Edward J. Nicoll Director
Fumiki Kondo Director
John Fay Director
Alex Goor Director
Hidekazu Matoba Director
Yasuo Agemura Director
Hiromasa Yamazaki Director
David Findlay Director
Established in 1969, Instinet has a client base of approximately 1,500 institutions worldwide. Instinet is particularly strong in algorithmic trading.