Instinet Europe Limited, and Sun Trading International Limited, announced today that they have launched a bilateral liquidity streaming relationship.
Sun Trading will provide Instinet's buy and sell side clients with a unique stream of bilateral liquidity at or better than the touch, ahead of the Systematic Internaliser regime changes being ushered in under MiFID II in January 2018.This partnership will provide Instinet clients with access to efficient, incremental bilateral liquidity from a leading global market maker, complementing the agency-model broker's existing connectivity to market makers, lit markets and dark pools. This kind of bilateral liquidity aggregation will offer clients even more opportunities for price improvement and larger size fills. Instinet acts as a reliable counterparty allowing clients to access principal liquidity and remain anonymous to Sun Trading.
Ben Stephens, Head of Business Development, Instinet Europe Limited, said: "Adding Sun Trading as a direct liquidity provider is another important milestone in our MiFID II strategy. We can use our good relationships to optimise trading opportunities for our clients as the liquidity landscape changes. By managing our clients' interaction with many sources of liquidity in an anonymous manner, we can essentially personalise their access to the right counterparties in the most efficient way possible. It's a win/win - this is good for Instinet's clients and good for liquidity providers, alike."
Jamal Tarazi, Head of European Trading at Sun Trading, said: "Establishing this bilateral liquidity relationship with a leading agency broker like Instinet gives us the ability to provide meaningful liquidity to a wider set of counterparties across Europe by leveraging our leading market making capabilities. Being a direct trading counterparty to a partner like Instinet is a part of a larger global strategy, where we are aiming to continue being a liquidity provider in innovative ways that benefit end investors."
Sun's go-live with Instinet coincides with the firm's launch of its SI platform in London which will form the basis of Sun's ongoing bilateral trading and related quote provision in Europe. The firm intends to register as an SI in a broad range of European equity securities.
Source: Press release
