Instinet (NASDAQ:INGP)
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Instinet Group Incorporated (NASDAQ:INGP) today
announced April 2005 transaction data for its two major business
segments: Instinet, The Unconflicted Institutional Broker and INET,
The electronic marketplace.
In April 2005, Instinet's total average daily U.S. equity share
volume was 106 million shares, which represents a 2.5% share of the
U.S. equity market. This compares to 111 million shares, or 2.7% of
the U.S. equity market, in March 2005, and 122 million shares, or 2.9%
of the U.S. equity market, in April 2004.
In April 2005, INET's total matched average daily U.S. equity
share volume was 600 million shares, or 14.3% of the U.S. equity
market. This volume consisted of 507 million shares of NASDAQ-listed
stocks, or a 27.7% share of the NASDAQ-listed market, and 93 million
shares of U.S. exchange-listed stocks, or 3.9% of the U.S.
exchange-listed market.
This compares to INET's total matched average daily share volume
of 574 million in March 2005, or 13.8% of the U.S equity market,
consisting of 493 million shares of NASDAQ-listed stocks, or a 26.9%
share of the NASDAQ-listed market, and 81 million shares of U.S.
exchange-listed stocks, or 3.5% of the U.S. exchange-listed market.
In April 2004, INET's total matched average daily share volume was
555 million shares, or 13.4% of the U.S equity market, consisting of
481 million shares of NASDAQ-listed stocks, or a 24.8% share of the
NASDAQ-listed market, and 74 million shares of U.S. exchange-listed
stocks, or 3.4% of the U.S. exchange-listed market.
Instinet Group reports additional monthly operating data on its
website at www.instinetgroup.com under the heading "Investor Relations
- Instinet Trading Activity."
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*T
April March April
2005 2005 2004
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# of Trade Days 21 22 21
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Instinet (1)
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Total U.S. equity average daily volume (million
shares) 106 111 122
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Share of total U.S. equity market 2.5% 2.7% 2.9%
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INET - Matched Average Daily Volume (2)
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NASDAQ-listed equity share volume (million shares) 507 493 481
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Share of total NASDAQ market 27.7% 26.9% 24.8%
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U.S. exchange-listed share volume (million shares) 93 81 74
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Share of total U.S. exchange-listed market 3.9% 3.5% 3.4%
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Total U.S. equity share volume (million shares) 600 574 555
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Share of total U.S. equity market 14.3% 13.8% 13.4%
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Monthly totals may not reflect weekly data, which are preliminary. The
number of trading days in each period takes account of U.S. market
holidays and any other U.S. market closings. Instinet volume has been
restated to include volume of Bridge Trading Company which was
acquired on March 31, 2005.
1. For a description of how we calculate Instinet's transaction
volumes, see "Management's Discussion and Analysis of Financial
Condition and Results of Operations - Calculation of Volume -
Instinet, The Unconflicted Institutional Broker" in our Form 10-Q
for the fiscal quarter ended March 31, 2005.
2. For a description of how we calculate INET's transaction volumes,
see "Management's Discussion and Analysis of Financial Condition
and Results of Operations - Calculation of Volumes - INET, The
electronic marketplace" in our Form 10-Q for the fiscal quarter
ended March 31, 2005.
Instinet has experienced significant seasonality in its business, and
period-to-period comparisons of operating results are not necessarily
meaningful, nor are the results for any period necessarily indicative
of results for any future period.
*T
About Instinet Group
Instinet Group, through affiliates, is the largest global
electronic agency securities broker and has been providing investors
with electronic trading solutions and execution services for more than
30 years. We operate our two major businesses through Instinet, LLC,
The Unconflicted Institutional Broker, and Inet ATS, Inc., The
electronic marketplace.
-- 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 performance and lower
overall transaction 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. Lynch, Jones & Ryan, Inc., Instinet Group's commission
recapture subsidiary is also a part of Instinet.
-- INET, The electronic marketplace, represents the consolidation
of the order flow of the former Instinet ECN and former Island
ECN, providing its U.S. broker-dealer customers one of the
largest liquidity pools in NASDAQ-listed securities.
This press 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.
(C)2005 Instinet Group Incorporated and its affiliated companies.
All rights reserved. INSTINET and INET are service marks in the United
States. Instinet, LLC (branded Instinet, The Unconflicted
Institutional Broker), member NASD/SIPC, Inet ATS, Inc. (branded INET,
The electronic marketplace), member NASD/NSX/SIPC and Lynch, Jones &
Ryan, Inc., member NASD/SIPC are subsidiaries of Instinet Group
Incorporated which is part of the Reuters family of companies.
This news release may be deemed to include forward-looking
statements relating to Instinet Group. Certain important factors that
could cause actual results to differ materially from those disclosed
in such forward-looking statements are included in Instinet Group's
Annual Report on Form 10-K for the fiscal year ended December 31,
2004, and other documents filed with the SEC and available on the
Company's website at www.investor.instinetgroup.com.