Instinet falters despite growth on buy side

PORTFOLIO MANAGEMENT AND TRADING

NEWYORK -- Agency brokerage service Instinet, a 60%-owned subsidiary of Reuters, has announced a record daily trading volume of 16.4 million shares through its Trading Portal. This comes after the much-publicised £88 million ($137 million) mid-year loss announced by Reuters (see BSIT, August 2002), of which New York-based Instinet was reportedly responsible for a £5 million operating loss. But while the Instinet Trading Portal, launched in April 2002, is ahead of schedule in terms of clients