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Facing increased volumes of broker-to-broker trades, Instinet plans to begin migrating to its new middle-office system, code-named Beehive, some time in October or November.
Due to decimalization, the company has seen approximately a 50 percent (about 750,000 trades/day) increase in broker-to-broker trades, as well as a quadrupling of the order-to-trade ratio.
"We’re setting new trade records every day," says Andrew Banhidi, senior vice-president and CTO for Instinet. "We’re setting new order
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