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Instinet Adds Fidelity Capital Markets Services? CrossStream as Nighthawk Destination


Instinet, a global agency broker, has announced it has added Fidelity Capital Markets Services? CrossStream ?dark? liquidity pool to its Nighthawk liquidity aggregation algorithm. With the deal, Instinet clients can potentially interact with Fidelity?s aggregated retail and institutional order flow that is posted in CrossStream. Fidelity CrossStream joins Credit Suisse?s CrossFinder, Pipeline, Liquidnet H20 and NYFIX Millennium as the ?dark? pools available through Nighthawk.

?Fidelity is one of the most respected financial services firms in the world, and we?re extremely excited to partner with them,? said Michael Plunkett, President, North America at Instinet. ?At its core, Instinet is completely committed to openness, and relationships with leading firms like Fidelity is an example of this strategy in action. Our goal is to help the buyside seamlessly access the myriad dark pools that exist today. On the back end our approach is the same, where our BrokerShare program allows managers to pay any of the 200 plus research brokers that have partnered with us. In our opinion, this is what the buyside is looking for, and Instinet is fully prepared to be their single point of entry to best execution.?

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