Instinet (NASDAQ:INGP)
Historical Stock Chart
From May 2019 to May 2024
ADP Offers INET as Execution Point
NEW YORK, July 19 /PRNewswire-FirstCall/ -- ADP Brokerage Services Group, a
division of Automatic Data Processing, Inc. (NYSE:ADP), announced today that it
is offering its clients access to INET (Inet ATS, Inc.), a subsidiary of
Instinet Group Incorporated (NASDAQ:INGP), and one of the largest electronic
marketplaces for U.S. over-the-counter securities, as a new execution point on
its order processing network.
(Logo: http://www.newscom.com/cgi-bin/prnh/20021125/NYM018LOGO )
With the availability of the INET connection, clients can immediately begin
their individual setup and testing process to establish INET as a destination
on their ADP Order Routing networks. The addition of INET provides ADP's order
processing clients with the ability to post their customers' limit orders in
the marketplace that currently holds a 25 percent share of the total U.S.
market in NASDAQ-listed equity trading.*
"We believe ADP's clients stand to benefit enormously," said Alex Goor,
President, Inet ATS, Inc. "By placing their limit orders on one of the largest
electronic marketplaces, ADP's clients have the opportunity to fulfill their
best execution requirements, while at the same time receiving rebates for
trades that add liquidity to the marketplace."
"As always, we strive to provide our clients with the best possible products
and World Class service. By proactively expanding our network of execution
points, we are giving our clients more options to meet their needs," said
Marianne Brown, Senior Vice President and General Manager, ADP Brokerage
Processing Services.
About ADP Brokerage Services Group
As the premier provider of transaction services to the financial industry, ADP
has the capacity and technological expertise to assist its clients in
differentiating themselves in the marketplace. ADP brings to financial
intermediaries advanced, integrated systems for securities processing, desktop
productivity and investor communication services, all focused on providing
solutions for straight through processing and World Class Service.
With more than $7 billion in annual revenues and 500,000 clients, ADP is one of
the largest independent computing services firms in the world. For more
information about ADP Brokerage Services Group, please visit our web site at
http://www.bsg.adp.com/ and for other ADP services and investor information,
please visit http://www.adp.com/.
About INET
INET, the Electronic Marketplace, provides its more than 800 U.S. broker-dealer
subscribers access to one of the largest electronic marketplaces for U.S.
over-the-counter securities, with approximately 25 percent of NASDAQ-listed
equity trading.* Representing the consolidated order flow of the former
Instinet ECN and former Island ECN, INET collects, prioritizes, displays and
matches orders within its subscriber network and, through the use of advanced
technology, offers routing services for its U.S.-registered broker-dealer
subscribers. INET's trading platform is fast, anonymous, reliable and
cost-efficient, designed for scalability in high-speed, high-volume electronic
trading. Inet ATS, Inc. (branded as INET) is a subsidiary of Instinet Group
Incorporated (NASDAQ:INGP), which is part of the Reuters family of companies.
This news release is for information purposes only and is not intended as an
offer or solicitation with respect to the purchase or sale of any security.
While Instinet Group believes the information contained herein is reliable, we
do not guarantee its accuracy, and it may be incomplete or condensed. These
statements speak only as of this news release and Instinet undertakes no
obligation to update publicly any of the information contained herein, in light
of new information or future events.
INET and the INET logo are service marks in the United States. Inet ATS, Inc.,
member NASD/NSX/SIPC, branded as INET, is a subsidiary of Instinet Group
Incorporated.
* For a description of how we calculate INET's share volumes, see "Management's
Discussion and Analysis of Financial Condition and Results of Operations -
Calculation of Volume - INET, the Electronic Marketplace" in our Form 10-Q for
the fiscal quarter ended March 31, 2004
This news release may be deemed to include forward-looking statements relating
to Instinet. Certain important factors that could cause actual results to
differ materially from those disclosed in such forward-looking statements are
included in the Instinet Annual Report Form 10-K dated for the period ended
December 31, 2003 and other documents filed with the SEC and available on the
Company's web site.
Press Contacts:
Mike West Dorothy Friedman
ADP Brokerage Services Group ADP Brokerage Services Group
+44 207 551 3224 (International) +1 212 918 6920 (U.S.)
http://www.newscom.com/cgi-bin/prnh/20021125/NYM018LOGODATASOURCE: ADP
Brokerage Services Group
CONTACT: Mike West, +44-207-551-3224 (International), ,
or Dorothy Friedman, +1-212-918-6920 (U.S.), , both of
ADP Brokerage Services Group
Web site: http://www.bsg.adp.com/