Instinet Unit Becomes Member of Australian Exchange

February 1, 2010
Tom Steinert-Threlkeld

Instinet Australia Pty. Ltd. became a full member of the Australian Securities Exchange, its parent, Instinet Inc., said Monday.

The Australian sales and trading desk succeeds a trading desk in Hong Kong that served Australian customers until now, the global provider of electronic agency brokerage services said.

The Hong Kong unit, Instinet Pacific Limited, had obtained a remote license in 2007 and Instinet became a member of the ASX Settlement and Transfer Corporation in 2008.

Glenn Lesko, CEO of Instinet in Asia, said Instinet ranks as the 11th largest institutional broker in Australia.

On November 30, 2009, the operation traded 3.7 percent of Australia’s total equities value, Instinet said.

 

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