GlobeOp Financial Services has teamed up with global agency broker Instinet to streamline international equities trading for GlobeOp's hedge fund clients.
GlobeOp's new GoMarkets(SM) electronic trading connectivity platform now links directly to Instinet's Newport global portfolio trading front-end allowing users to tap more than 40 international markets, as well as Instinet's full suite of domestic and international algorithms, proprietary upstairs liquidity and pure agency sales trading desks around the world. Instinet meanwhile, gains access to GlobeOp's large and diverse hedge fund client base.
"Making Instinet's Newport platform available via GoMarkets is the nextstep in providing our clients with Straight Through Processing (STP) ofelectronic execution in an increasing range of asset classes," says Hans Hufschmid, Chairman and Chief Executive Officer of GlobeOp. "The agreement significantly augments GlobeOp's offering to our equity trading client base, given the breadth of markets users can access through Instinet."
Tony Mackay, President and Managing Director, Instinet Europe, adds: "Instinet is pleased to align with GlobeOp, and we are confident that its hedge fund customers will benefit from our deep global equities trading expertise and Newport's superior technology."
Background notes: Instinet, a global agency-broker, provides the trading expertise andadvanced technology necessary to successfully interact with more than 40 worldwide securities markets. Acting solely as an agent for its customers, which include international mutual funds, insurance companies, pension funds and hedge funds, Instinet seeks to improve institutional investment performance and lower overall trading costs through its various front end trading systems, securities crossing networks, algorithms and investment research products. The company, which is majority owned by Silver Lake Partners, is headquartered in New York and maintains offices in North America, Europe and the Asia Pacific region.
GlobeOp Financial Services specializes in middle- and back-office support services and fund administration for hedge funds, funds of hedge funds, asset managers and high net worth family wealth managers. GFS provides independent services essential to the successful operation of private investment entities with activities ranging across a wide spectrum of traded instruments. The firm's GlobeOp Risk subsidiary provides independent risk reporting and quantification to investors, creditors and managers. Company expertise is drawn from the senior levels of international banking and fund management and encompasses a wide range of relevant experience.
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