BLX Australia joins Instinet’s Australian sales trading desk and its advanced suite of electronic trading tools for the Australian market, including its global broker-neutral Execution Management System (EMS), Newport3, and the Asia-Pacific-tailored Execution Experts algorithmic suite.
It also becomes the firm’s fifth alternative liquidity pool in the Asia-Pacific region along with JapanCrossing, KoreaCross, CBX Japan and CBX Hong Kong.
Instinet head of Australian Sales Matthew Moore said with the Australian equities market becoming more electronic and institutional trading needs becoming more complex, they believe this is an ideal time to introduce a pool like BLX that combines the benefits of both block and continuous trading.
BLX – which Instinet also operates in the US and Canada – aggregates multiple orders from both buy- and sell-side participants and consolidates them into block-sized trades.
Instinet designed the BLX model to increase trade size by appealing to an array of trading participants, including both passive block traders and those using algorithmic trading strategies.
