Instinet Drops Plan for Standalone Online Retail Trading Operation
Instinet, a unit of Reuters (RTRSY), scrubbed plans to offer an equity trading service for retail investors through Instinet.com, attributing the decision to a downturn in the online brokerage market and slowing trading activity.
Reuters, a media company based in London, had been planning to give individual investors the chance to trade stocks online with Instinet.com, but said in a statement today that the retail service will instead be offered through Instinet's wholesale business.
Instinet has already completed the development of a new system for direct online retail brokerage. Elements of the service will be combined with Instinet's existing ability to serve retail investors through other firms who use the agency broker for executing and clearing trades.Reuters originally expected to launch Instinet.com last May, but said at the beginning of June that the starting date had been postponed until the fourth quarter. In October, Reuters disclosed plans for an initial public offering of the company's Instinet operation.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV