Users of Instinet’s Newport and Instinet Trading Portal execution management systems (EMSs) can now directly access Bank of America, Credit Suisse and Goldman Sachs algorithms.

This direct algorithm access is in addition to access to the three firm’s alternative trading systems and sales trading desks. “This is part of our open architecture philosophy and being a neutral solution for our clients,” says Mike Plunkett, president, North America at Instinet.

“The first roll out will include access to these three firms and hopefully we’ll move to making one-stop shopping a reality so traders don’t have to access seven different applications on their desktop,” he adds. As dark pools and algorithms continue to multiple, making a traders workflow more and more complicated, Plunkett says the ability to access a variety of products and destinations directly through a single platform is key.

Plunkett says that users will have direct access to the algorithms from Bank of America, Credit Suisse and Goldman Sachs with the look and feel as well as options distinct for each firm’s order tickets. “There are many different names for algorithms and different choices and filters that are available,” says Plunkett. “But now users can go through one front end and aggregate their executions in one blotter.”

He adds that Instinet has had strong relationships with the three firms and was able to work closely with their technology departments to develop the virtual tickets and the integration, but the direct access won’t stop there. “We’re going out and soliciting additional partnerships right now and a lot of that is driven by client request,” Plunkett says.

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