STOCKHOLM, Sweden, Feb. 23, 2005 (PRIMEZONE) -- Instinet Europe Limited, The Unconflicted Institutional Broker and Orc Software, the leading provider of technology for advanced market making, trading and brokerage, today announced that access to Instinet's global electronic trading services is now available to Orc Software's clients via Orc Software's trading network, Orc ExNet.
Instinet is now connected to Orc ExNet and Instinet's trading functionality has been integrated into the various Orc front-ends. This partnership makes it easier and more cost effective for Orc Software's clients to benefit from Instinet's fast, anonymous and direct access to global equity markets.
Steve Harris, Head of Direct Market Access, Instinet Europe Limited commented: "This agreement is part of Instinet's strategy to grow its direct market access business and includes access to Instinet's SmartRouterSM technology which is designed to pursue best execution across multiple trading venues. Orc Software has a significant client base that can now benefit from Instinet's unbiased and efficient access to new markets around the globe without having to invest in additional front-ends."
Jonas Lindstrom, CEO of Orc Software said: "Instinet is among other things recognized for its strong brand and global reach, with access to almost 30 markets worldwide. As such, the inclusion of Instinet's functionality within the Orc System is a good complement to our present product offering. Orc Software's clients can now use the Orc front-ends to trade on European and U.S. cash markets via Instinet."
About Orc Software
Orc Software provides technology for advanced market making, trading and brokerage. The Orc Technology is used in 21 countries and allows users to access more than 90 markets. The company is listed at Stockholmsborsen and has operations in Chicago, Frankfurt, Hong Kong, London, Milan, Moscow, New York, Stockholm, St Petersburg, Sydney, Tokyo, Toronto, Vienna and Zurich. In 2004, the company's total revenue amounted to SEK 247 million with an operating income of SEK 29 million. www.orcsoftware.com
About Instinet, the Unconflicted Institutional Broker Instinet, the Unconflicted Institutional Broker, gives its customers the opportunity to use its sales-trading expertise and advanced technology tools to interact with global securities markets, improve trading and investment performance and lower overall trading costs. Through Instinet's electronic platforms, customers can access other U.S. trading venues, including NASDAQ and the NYSE, and almost 30 securities markets throughout the world. Instinet acts solely as an agent for its customers, including institutional investors, such as mutual funds, pension funds, insurance companies and hedge funds. Instinet, LLC is a subsidiary of Instinet Group Incorporated (Nasdaq:INGP) which is part of the Reuters family of companies.
Disclaimers
(C) 2005 Instinet, LLC and its affiliated companies. All rights reserved. Instinet, LLC member NASD/SIPC. INSTINET is a registered service mark in the United States and other countries throughout the world. Approved for distribution in Europe by Instinet Europe Limited which is authorized and regulated by the Financial Services Authority. Instinet Europe Limited is an affiliate of Instinet, LLC. Instinet Europe Limited and Instinet, LLC (branded as Instinet, the Unconflicted Institutional Broker) are subsidiaries of Instinet Group Incorporated. Instinet is part of the Reuters family of companies.
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