Instinet Acquires FIS Algo Trading Business

Instinet has entered into an agreement to acquire the algorithmic trading business of agency-broker FIS according to a story in The Trade news. The deal remains subject to regulatory approval and is expected to close later this year. Instinet will acquire FIS’ algorithmic trading technology and intellectual property. Founded in 2000, FIS provides algorithms to improve execution quality and costs while minimizing information leakage. The business acquired FIS Execution Services in 2015 as part of its SunGard deal. Its key products include trading algorithms and execution services including direct market access and sales trading.