18.08.2015, 14:06
Instinet Europe receives FCA authorisation as a Payment Institution
OREANDA-NEWS. Instinet Europe Limited (Instinet) today announced
that
it
has
received
regulatory
authori
s
ation from the FCA
as a
Payment Institution. This
authoris
ation allows
Instinet to offer a new
s
afeguarded
cash management and payment service solution to clients
looking to purchase investment
research through ‘
hard do
llar’
research payments.
Instinet applied for the registration in March 2015 with the aim of compl e menting its market leading Commission Management business. Instinet’s first c lients are expected to go live in August 2015, through their integrated cash management and broker review platform, Plazma. The payment service solution , available to investment firms throughou t the EU , will provide long term optionality, continuity and stability in how they manage the consumption and payment of investment research.
“As an authoris ed Payment Institution, we can offer our clients the flexibility to choose a solution that works best for them,” said Adam Toms, CEO of Instinet Europe Limited. “ Optionality is the key, as w e still firmly beli eve that C ommission S haring A greements (CSA) can offer the necessary tools for Asset Managers to effectively manage their research payments. We have seen stro ng growth in the CSA platform at Instinet, notably in our CSA Aggregation services. Our hope is that the regulators and politicians find the common ground necessary to allow our Clients to choose the model that works best for them, whilst keeping investor’s best interests at the heart of their business”.
Working with Instinet’s highly regarded Commis sion Management support team, Clients are able to track research budgets, instruct research payments, generate sophisticated m an agement reporting, and utilis e the broker voting functionality , all through the integrated Plazma platform. The use of CSA Aggre gation has become more widespread, offering a holistic view of multiple CSA programs in one system, simplifying the administrative control whilst enhancing the governance framework.
Instinet is at the forefront of innovation, providing clients with Commiss ion Management solutions to effectively manage their investment research payments through CSAs. With heightened regulatory focus on the consumption and payment of those services, some asset managers are seeking alternative mechanisms to pay for the investm ent research they consume. As a Payment Institution, Instinet will appeal to firms who may choose to use their own resources, or more commonly, the assets of the underlying investors through direct fund charges, to pay for investment research.
About Instinet
As the equity execution services arm of the Nomura Group, Instinet Incorporated’s subsidiaries provide independent, agency - only brokerage services to cli ents throughout the world. Through its advanced suite of electronic trading tools, experienced high - touch trading group and unparalleled access to insightful content and MEDIA RELEASE unique agency - only liquidity, Instinet helps institutions lower overall trading cost s and ultimately improve investment performance. Over the course of its 40+ year history, Instinet has introduced a range of now industry - standard trading technologies as well as the world’s first major electronic trading venue, one of the first U.S. ECNs and, most recently, the Chi - X businesses.
Instinet applied for the registration in March 2015 with the aim of compl e menting its market leading Commission Management business. Instinet’s first c lients are expected to go live in August 2015, through their integrated cash management and broker review platform, Plazma. The payment service solution , available to investment firms throughou t the EU , will provide long term optionality, continuity and stability in how they manage the consumption and payment of investment research.
“As an authoris ed Payment Institution, we can offer our clients the flexibility to choose a solution that works best for them,” said Adam Toms, CEO of Instinet Europe Limited. “ Optionality is the key, as w e still firmly beli eve that C ommission S haring A greements (CSA) can offer the necessary tools for Asset Managers to effectively manage their research payments. We have seen stro ng growth in the CSA platform at Instinet, notably in our CSA Aggregation services. Our hope is that the regulators and politicians find the common ground necessary to allow our Clients to choose the model that works best for them, whilst keeping investor’s best interests at the heart of their business”.
Working with Instinet’s highly regarded Commis sion Management support team, Clients are able to track research budgets, instruct research payments, generate sophisticated m an agement reporting, and utilis e the broker voting functionality , all through the integrated Plazma platform. The use of CSA Aggre gation has become more widespread, offering a holistic view of multiple CSA programs in one system, simplifying the administrative control whilst enhancing the governance framework.
Instinet is at the forefront of innovation, providing clients with Commiss ion Management solutions to effectively manage their investment research payments through CSAs. With heightened regulatory focus on the consumption and payment of those services, some asset managers are seeking alternative mechanisms to pay for the investm ent research they consume. As a Payment Institution, Instinet will appeal to firms who may choose to use their own resources, or more commonly, the assets of the underlying investors through direct fund charges, to pay for investment research.
About Instinet
As the equity execution services arm of the Nomura Group, Instinet Incorporated’s subsidiaries provide independent, agency - only brokerage services to cli ents throughout the world. Through its advanced suite of electronic trading tools, experienced high - touch trading group and unparalleled access to insightful content and MEDIA RELEASE unique agency - only liquidity, Instinet helps institutions lower overall trading cost s and ultimately improve investment performance. Over the course of its 40+ year history, Instinet has introduced a range of now industry - standard trading technologies as well as the world’s first major electronic trading venue, one of the first U.S. ECNs and, most recently, the Chi - X businesses.
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