Instinet Offers Program Trading To Buy Side
PORTFOLIO MANAGEMENT
NEW YORK--Instinet is beta testing a new program-trading application for quantitative and passive fund managers in the US and Europe. A number of external clients are now testing the system, known as Newport, and the company plans to have as many as 70 client sites installed by the first half of this year, with further clients solicited in the third quarter.
Instinet is currently executing client orders on Newport, running the application in parallel with its existing basket trade management
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