Instinet (NASDAQ:INGP)
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Instinet Group Incorporated (NASDAQ: INGP) today
announced September 2005 transaction data for its two major business
segments: Instinet, The Institutional Broker and INET, The electronic
marketplace.
In September 2005, Instinet's total average daily U.S. equity
share volume was 108 million shares, which represents a 2.7% share of
the U.S. equity market. This compares to 94 million shares, or 2.6% of
the U.S. equity market, in August 2005, and 91 million shares, or 2.7%
of the U.S. equity market, in September 2004.
In September 2005, INET's total matched average daily U.S. equity
share volume was 549 million shares, or 13.5% of the U.S. equity
market. This volume consisted of 437 million shares of NASDAQ-listed
stocks, or a 26.1% share of the NASDAQ-listed market, and 112 million
shares of U.S. exchange-listed stocks, or 4.7% of the U.S.
exchange-listed market.
This compares to INET's total matched average daily share volume
of 489 million in August 2005, or 13.5% of the U.S equity market,
consisting of 393 million shares of NASDAQ-listed stocks, or a 25.8%
share of the NASDAQ-listed market, and 96 million shares of U.S.
exchange-listed stocks, or 4.6% of the U.S. exchange-listed market.
In September 2004, INET's total matched average daily share volume
was 439 million shares, or 13.1% of the U.S equity market, consisting
of 367 million shares of NASDAQ-listed stocks, or a 24.4% share of the
NASDAQ-listed market, and 72 million shares of U.S. exchange-listed
stocks, or 3.9% 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."
(1) On July 1, 2005 Instinet Group sold Lynch Jones & Ryan, Inc.
(LJR) to The Bank of New York. All historical statistical disclosures
have been restated to exclude LJR share volume and revenue capture per
share (previously disclosed within Institutional and Crossing) to be
consistent with the historical re-classification of LJR results to
discontinued operations on the Company's income statement.
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*T
September August September
2005 2005 2004
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# of Trade Days 21 23 21
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Instinet (1)
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Total U.S. equity average daily volume
(million shares) 108 94 91
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Share of total U.S. equity market 2.7% 2.6% 2.7%
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INET - Matched Average Daily Volume (2)
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NASDAQ-listed equity share volume
(million shares) 437 393 367
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Share of total NASDAQ market 26.1% 25.8% 24.4%
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U.S. exchange-listed share volume
(million shares) 112 96 72
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Share of total U.S. exchange-listed market 4.7% 4.6% 3.9%
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Total U.S. equity share volume
(million shares) 549 489 439
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Share of total U.S. equity market 13.5% 13.5% 13.1%
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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. All historical
Instinet volume has been restated to include volume of Bridge
Trading Company which was acquired on March 31, 2005 and to
exclude LJR which was sold on July 1, 2005 and reclassified as
discontinued operations on the Company's Statement of Operations.
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 June 30, 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 June 30, 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 Institutional Broker, and Inet ATS, Inc., The electronic
marketplace.
-- Instinet, The 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.
-- 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 Institutional Broker),
member NASD/SIPC, Inet ATS, Inc. (branded INET, The electronic
marketplace), member NASD/NSX/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.