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Instinet's second liquidity streaming relationship goes live with Sun Trading

First Published 18th August 2017

Providing buy and sell side clients with additional bilateral liquidity ahead of MiFID II

Ben Stephens, Instinet

Ben Stephens, Instinet

London - Instinet Europe and Sun Trading have launched a bilateral liquidity streaming relationship. Sun Trading will provide Instinet's buy and sell side clients with a stream of bilateral liquidity at or better than the touch, ahead of the Systematic Internaliser (SI) regime changes being ushered in under MiFID II in January 2018.

This partnership will provide Instinet clients with access to incremental bilateral liquidity complementing the agency-model broker's existing connectivity to market makers, lit markets and dark pools. Instinet acts as a counterparty allowing clients to access principal liquidity and remain anonymous to Sun Trading.

Ben Stephens, Head of Business Development, Instinet Europe Limited, said: "Adding Sun Trading as a direct liquidity provider is another important milestone in our MiFID II strategy. We can use our good relationships to optimise trading opportunities for our clients as the liquidity landscape changes. By managing our clients' interaction with many sources of liquidity in an anonymous manner, we can essentially personalise their access to the right counterparties in the most efficient way possible. It's a win/win - this is good for Instinet's clients and good for liquidity providers, alike."

Sun's go-live with Instinet coincides with the firm's launch of its SI platform in London which will form the basis of Sun's ongoing bilateral trading and related quote provision in Europe. The firm intends to register as an SI in a broad range of European equity securities.