Instinet Completes Acquisition of FIS Algo Trading Business

Instinet has completed its purchase of the FIS execution services business, according to a story in The Trade news. FIS execution services unit offers execution solutions including trading algorithms and execution services, including direct market access and sales trading. Once fully integrated, the new offering will be called Instinet Fox River Quant Solutions and will be delivered alongside Instinet’s core solutions business. It will initially be rolled out in the Americas with scope for this to expand in the future.