[ S U R V E Y | E X E C U T I O N M A N A G E M E N T S Y S T E M S ]
Instinet Newport
Instinet Newport , the provider ’ s broker-neutral , multi-asset class execution management system , provides real-time data , order entry tools , and flexible execution options designed to take traders from pre-trade strategy , through advanced order execution management , to post-trade analytics . Instinet notes that Newport is built on exchangegrade technology and is market-tested by leading firms , in addition to supporting Instinet ’ s own high-volume global agency business . As a result , the company claims it is uniquely able to test each version of Newport with its own internal trading desk before releasing it to clients , allowing Instinet to optimise Newport for clients prior to each release . Over the past year , Instinet has added new market on close / target close analytics tools including those for pre-trade , intraday and post-trade .
Instinet had another impressive increase in its overall score in this year ’ s survey , jumping 19 basis points from last year ’ s score to 6.15 . The company ’ s highest score was in availability and reliability ( 6.81 ) which also outperforms the category average by a significant 44 basis points . Other noteworthy areas of performance for Instinet in this year ’ s
survey were overall cost of operation ( 6.32 ) and client service personnel ( 6.50 ), which outperformed the category average by 67 and 50 basis points , respectively .
The vendor saw year-over-year improvements in every category in this year ’ s survey except one , with the most notable being ease of integration to internal systems (+ 0.67 ), reliability and availability (+ 0.42 ) and ease-of-use (+ 0.42 ). The only category Instinet saw a decrease in its score year-over-year was breadth of asset class coverage ( -0.32 ), which also happened to be the vendor ’ s lowest scoring category ( 5.35 ).
Of Instinet ’ s roughly 1,000 buy-side clients using Newport , 33 submitted their feedback in this year ’ s survey with a majority ( 61 %) from firms with over $ 50 billion of assets under management . When asked what additional capabilities they desired from Instinet Newport , respondents focused on expanded asset class and market coverage , continued innovation in ease-of-use and customisation , better data capture and aggregation for OTC products , improved broker wheels and enhanced TCA capabilities .
INSTINET NEWPORT RATINGS FOR EMS PERFORMANCE
Reliability and availability |
Latency |
Client service personnel |
Ease-ofuse |
Handling of new versions / releases |
Breadth of broker algorithms |
Timeliness of updates for broker changes |
FIX capabilities |
6.81 6.37 6.50 6.08 5.96 6.38 6.13 6.54
Breadth of asset class coverage |
Breadth of direct connections to venues |
Product development |
Ease of integration to internal systems |
Overall cost of operation |
Average score |
5.35 6.19 5.39 5.94 6.32 6.15
KEY STATS Overall Outperformer : Category Outperformer : X11
6.81
Highest score ( reliability and availability )
5.35
Lowest score ( breadth of asset class coverage )
+ 0.67
Most improved ( ease of integration to internal systems )
-0.32
Least improved ( breadth of asset class coverage )
90 // TheTRADE // Q3 2024