Instinet FX Cross sees Increased Volumes

The Instinet FX Cross continues to grow both in terms of liquidity and client participation. The web-based platform, a product of a strategic alliance between Instinet and Citigroup, brings unprecedented features of anonymity, order-matching and price transparency to FX dealing. The product aggregates client orders at frequent intervals during the day, reducing participating clients' transaction costs. Instinet, as neutral agent, is responsible for order handling, ensuring participating client order details and identity remain anonymous. Citigroup is the counterparty on all trades.The platform now has daily liquidity in all its crossing sessions, with a record number of participating clients in November. Currency liquidity is sourced from investor and corporate clients in Japan, Australia, Europe and North America. This affords the greatest possible chances of offset or matching in the 17 major and emerging market currency pairs on offer....continued

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