Instinet's Newport EMS Gets Derivatives Upgrades

Electronic trading and agency-only brokerage provider Instinet, a company of Nomura Group, has announced key enhancements for derivatives to its Newport execution management system (EMS) with the rollout of version 3.13.

Among those enhancements are exchange-traded futures (ETF) calendar spreads, allowing rolling expiring futures positions with future expiry without legging risk and access to the firm's new spread smart order router and smart legging algorithm, which aggregates liquidity from complex order books of five exchanges under low latency, independently allowing each leg of a spread to be sourced separately.

Newport will also feature enhanced workflow for options spread trading and the addition of ITG's Posit Alert, a fifth blotting registration option for block-focused destinations that joins Instinet BLX, BIDS, BlockCross, and Liquidnet.

"Multi-asset trading continues to be a strategic focus for Instinet. Every facet of our business-from sales trading and liquidity sourcing to aggregation and commission management-now addresses derivatives. We're committed to maintaining this focus and bringing the best possible multi-asset trading enhancements to Newport going forward," says Erin Sheehan, product strategist for Newport at Instinet.