Instinet to Focus on Automated Routing for Newport Platform

Erin Sheehan, executive director of US product strategy at Instinet, tells Sell-Side Technology that the broker will look to provide buy- and sell-side clients with an automated feature for routing through the Newport platform.

"Automated routing via Newport allows clients to make use of value-added components of the EMS such as its analytics and Indigo, which they may not be able to make use of or have access to otherwise," Sheehan says.

On Wednesday, Instinet announced new enhancements to the Newport platform in an effort to grow the trading platform's presence in the order and execution management systems (OEMS) space on the sell side.

Position management was a main focus for the release as the company looks to broaden its reach to the sell side.

"Position management was the next step in the evolutionary process from an agency-only application to one that also caters to principal trading," Sheehan says. "This functionality affords clients the opportunity to move away from managing such information in an OMS, and instead furthering their ability to manage their workflow from a single front end."

Instinet also addressed its exchange-traded funds (ETF) capabilities, allowing users to now utilize a module for ETF and basket creation, she adds.

"Providing such features further centralizes basket-related workflow within single tool for sell-side usage as well as buy-side," she says. "Consolidation in desktop real estate along with a need for improved workflow offerings are the main drivers behind such developments."