Instinet, a global agency-brokerage owned by Nomura Holdings, has secured membership on the ASX Settlement and Transfer Corporation (ASTC), the settlement processing facility of the Australian Securities Exchange (ASX).
Instinet Australia Clearing Service Pty, a subsidiary of Instinet, has been clearing and settling client trades for the last three months. According to Instinet, the membership will complement the Australian trading services it offers to clients via Instinet Pacific, based in Hong Kong.
Instinet Pacific has had full remote membership to the ASX in September 2007, allowing it to offer direct execution of ASX-listed securities via its Newport execution management system, alternative trading platforms, global algorithms and agency-only services.
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