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.