TradingScreen
to provide direct access to Instinet’s CBX ASIA
HONG KONG, TOKYO, LONDON
and NEW YORK, (June 2, 2009): TradingScreen,
Inc., the leading global provider of multi-broker, multi-asset
class execution management systems (EMS), announced
today the launch of its direct connection to Instinet’s
CBX ASIA™, the agency-only broker’s real-time,
displayed ATS (alternative trading system) for Japanese
and Hong Kong equities.
The integration of CBX ASIA to the TradingScreen’s
destination network confirms the company’s commitment
to bringing the Buy Side the broadest access of liquidity
across the most diverse global execution venues. The
TradingScreen platform provides trade execution and
settlement tracking for institutional traders in more
than 100 countries representing over 250 equity and
equity derivatives exchanges across the world, including
access to the leading systematic internalisers, crossing
networks, grey pools and MTFs. CBX ASIA will be accessible
through TradingScreen’s flexible range of execution
management interfaces: TradeSmart™, TradeExcel™
and TradeFIX™ comprising the most powerful trading
platform in the industry.
Launched in Asia in 2001, first in Japan under Instinet’s
Japanese PTS (Proprietary Trading System), CBX ASIA
is a real-time, low-latency central limit order book
with traditional price/time priority and rich order
functionality for the trading of Japanese and Hong Kong
equities. It allows investors to trade in size and anonymously
with natural counterparties without exposing orders
to pricing pressure from the public markets. Unlike
Instinet CBX in the U.S., which is based on the same
technology and is the market’s second largest
independent dark pool, CBX ASIA is a displayed platform
whose market data is available to clients, as fully-hidden
orders are prohibited under securities laws in certain
Asian jurisdictions.
“As the Asia marketplace continues to see an
increasing number of liquidity venues, Buy Side traders
are looking more than ever to access all this liquidity
consistently and efficiently”, said Bernard Ho,
TradingScreen Head of Asia Pacific and Japan. “We
are pleased to offer our clients access to CBX ASIA
through our trading platform as we remain fully committed
to providing the broadest selection of liquidity in
Asia and globally, ensuring that our clients have a
unique and dynamic edge when accessing trading venues”.
“Given the current market environment, clients
are more focused than ever on seeking liquidity efficiently
and anonymously,” said Nick McDonald, Co-head
of Asian Equities at Instinet in Asia. “We are
pleased that TradingScreen’s institutional client
base can now access CBX ASIA, which provides traders
an alternative to the exchange and the ability to reduce
market impact, achieve finer spreads and trade anonymously.”
NOTE: CBX ASIA is the brand name for Instinet’s
CBX platform in Asia and is not licensed or regulated
in any market as a pan-Asian platform. Instinet’s
CBX offerings in each market are regulated under the
relevant rules and regulations governing each jurisdiction.
Interested press and analysts may contact:
Aitor Uria Saporiti at: aitor.uria@tradingscreen.com
Direct: +44 207 149 3141
Elina Lim at: elina.lim@instinet.com
Direct: +65 6854 3420
ABOUT TRADINGSCREEN
TradingScreen, Inc. is accelerating the technical evolution
of the world’s financial markets by providing
a fully integrated, customer-oriented trading service
platform to institutional investors. TradingScreen’s
global, multi-asset class proprietary system links institutional
investors and sell-side firms, thus facilitating order
routing, execution management, clearing and additional
value-added services (including straight-through processing
and prime brokerage.) This functionality is delivered
in a proven, reliable ASP install-and-support model.
TradingScreen provides global coverage from offices
in New York, Chicago, London, São Paulo, Hong
Kong, Singapore, Sydney and Tokyo.
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