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NDAQ » Topics » Note 1. Organization and Description of Business

These excerpts taken from the NDAQ 8-K filed Jan 27, 2006.

Note 1. Organization and Description of Business

 

Instinet Group Incorporated (the “Company” or “Instinet Group”) is a Delaware holding company which, through its operating subsidiaries, provides agency and other brokerage services to broker-dealers, institutional customers, hedge funds and professional traders. The Company is approximately 62% owned by subsidiaries of Reuters Group PLC (“Reuters” or “Parent”).

 

The Company has two distinct business lines:

 

  •   Instinet, the Institutional Broker, which services our non-broker-dealer institutional customers as well as customers of Bridge Trading Company (“Bridge”).

 

  •   INET, the electronic marketplace, our alternative trading system and ECN that services our U.S. broker-dealer customers.

 

Note 1. Organization and Description of Business

 

Instinet Group Incorporated (the “Company” or “Instinet Group”) is a Delaware holding company which, through its operating subsidiaries, provides agency and other brokerage services to broker-dealers, institutional customers, hedge funds and professional traders. The Company is approximately 62% owned by a subsidiary of Reuters Group PLC (“Reuters” or “Parent”).

 

In the first quarter of 2004, we completed a business restructuring plan to establish two distinct business lines:

 

  •   Instinet, the Institutional Broker, which services our non-broker-dealer institutional customers

 

  •   INET (formerly known as The Island ECN, Inc.), our alternative trading system and ECN that combines the U.S broker-dealer order flow of the Instinet ECN and The Island ECN and services our U.S. broker-dealer customers.

 

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Jan 27, 2006

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