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23rd July, 2008 - Completed conformance testing ensures IEL's participation on MTF's August launch

Instinet Europe Set to Begin Trading on Turquoise at Launch


Richard Balarkas, CEO, Instinet Europe Ltd: "Successfully connecting to Turquoise marks a major milestone in the continued development of our smart order routing capabilities."

Instinet Incorporated has announced that its European agency brokerage subsidiary, Instinet Europe Limited (IEL), has successfully completed conformance testing on the Turquoise trading platform. As a result, Instinet Europe's institutional clients will be able to have immediate access to the multilateral trading facility (MTF) from its scheduled August launch date.

"Successfully connecting to Turquoise marks a major milestone in the continued development of our smart order routing capabilities," said Richard Balarkas, CEO of Instinet Europe Limited. "From the moment Turquoise goes live, Instinet's global client base will be able to access it via sales trader, DMA or through our Instinet Execution Experts(TM) algorithms. Additionally, Instinet Europe's BlockMatch(TM) dark pool - itself a registered MTF - will have the ability to dynamically access Turquoise's dark order types."

Added Balarkas: "Turquoise's launch heralds an important new phase of competition amongst Europe's traditional exchanges and new MTFs, and should provide improved liquidity and prices to the international trading community. As an agency broker whose sole mission is to achieve a high-quality trade execution for our clients, we wish Eli Lederman and his team every success."

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