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Instinet has renamed its BlockMatch RFQ venue to "BlockMatch Select" as part of efforts to expand liquidity access for institutional clients and provide greater workflow control.
The rebranding responds to growing buy-side demand for improved liquidity access and reflects Instinet's position as a liquidity aggregator. The agency-only broker's BlockMatch MTF will now operate three distinct trading books: BlockMatch Dark, BlockMatch Select (formerly BlockMatch RFQ), and BlockMatch NT.
BlockMatch Select focuses on bilateral liquidity optimisation, providing automated access to a broad range of market participant flow and complementary liquidity sources. The platform offers connectivity through Instinet's execution platform and features a fully configurable, modular workflow that allows clients to target liquidity on a tailored basis.
"BlockMatch Select represents our commitment to bilateral liquidity optimisation," said Simon Dove, Head of Liquidity at Instinet. "It enhances current workflows by providing automated access to a wide range of market participant flow and complementary liquidity sources, which will allow a menu offering choice for a whole range of algo and DMA workflows."
The venue provides curation of liquidity and risk provision through what Instinet describes as a transparent, regulated platform. The development builds on the firm's track record in liquidity aggregation, offering clients what it positions as a distinct advantage in accessing and optimising bilateral liquidity.
"Our platform allows clients to enhance their liquidity access and interaction methods," added Dove. "We're not just facilitating trades; we're curating a premium liquidity experience tailored to our client's needs."
Salvador Rodriguez, EMEA Head of Global Execution Services, highlighted the platform's role in addressing European market liquidity challenges. "In response to our clients' needs, we've developed a solution that tackles Europe's persistent liquidity challenges," Rodriguez said. "Our innovative workflow leverages Instinet's proven execution platform, extensive liquidity access, and far-reaching distribution network to seamlessly connect diverse industry participants."
Instinet operates as the wholly-owned execution services arm of Nomura Group, providing technology-focused, agency-model brokerage services to institutional clients globally. The firm offers market insights, trading services, liquidity venues, and workflow solutions, including its Newport EMS platform and Plazma research payment system.
The company has maintained a position in electronic trading innovation over its 50-year history, creating various industry-standard technologies and establishing what it claims was the world's first major electronic trading venue.
