[ A L G O R I T H M I C
T R A D I N G
S U R V E Y ]
Instinet
I
algorithmically. Nearly one-third (30%) manage upwards
nstinet is a New York-headquartered institutional, agen-
of US$50 billion in assets.
cy-model broker that also serves as the independent
Instinet receives high marks in three categories—in-
equity trading arm of its parent, Nomura Group. Its global
creased trader productivity (6.15), reduced market impact
trading platform includes algorithms, routing functional-
(6.05), and anonymity (5.93)—ranking third in each area
ity, transaction analytics, and other trading tools. Instinet’s
according to 2020 survey results. Year-over-year, the
Execution Experts are event-driven, multi-asset
company sees increased scores in several areas,
algorithmic trading strategies.
most notably, increased trader productivity
Instinet is ranked the eighth provider out of
Average
(0.30), dark pool access (0.29), and anonymity
13 firms by number of responses. Thirty-three
Score
(0.24). Ease of use and execution consulting
long-only managers indicate they rely on In-
are two areas for which the company has re-
stinet for execution algos. Fifty-eight percent
ceived declining marks versus 12 months ago.
of managers who selected Instinet as a provid-
er execute at least half of their portfolio value
5.83
INSTINET RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader
productivity Reduced market
impact Execution
consistency Cost Speed Anonymity Price improvement Customisation
6.15 6.05 5.82 5.95 5.86 5.93 5.65 5.35
Ease of use Data on venue/order routing
logic or analysis Customer
support Execution
consulting Dark pool
access Flexibility and sophistication of
smart order routing Algo monitoring
capabilities
5.80 5.79 6.21 5.37 5.97 5.95 5.56
KEY STATS
6.21 5.35 0.30 -0.31
Highest score
(customer
support) Lowest score
(customisation) Most improved
(increase trader
productivity) Least improved
(execution
consulting)
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