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Instinet Group Announces May 2005 Transaction Information
16 June 2005
Instinet Group Incorporated (NASDAQ: INGP - News) today announced May 2005 transaction data for its two major business segments: Instinet, The Institutional Broker and INET, The electronic marketplace.
In May 2005, Instinet's total average daily U.S. equity share volume was 89 million shares, which represents a 2.3% share of the U.S. equity market. This compares to 106 million shares, or 2.5% of the U.S. equity market, in April 2005, and 104 million shares, or 2.7% of the U.S. equity market, in May 2004.
In May 2005, INET's total matched average daily U.S. equity share volume was 507 million shares, or 13.3% of the U.S. equity market. This volume consisted of 428 million shares of NASDAQ-listed stocks, or a 25.6% share of the NASDAQ-listed market, and 79 million shares of U.S. exchange-listed stocks, or 3.7% of the U.S. exchange-listed market.
This compares to INET's total matched average daily share volume of 600 million in April 2005, or 14.3% of the U.S equity market, consisting of 507 million shares of NASDAQ-listed stocks, or a 27.7% share of the NASDAQ-listed market, and 93 million shares of U.S. exchange-listed stocks, or 3.9% of the U.S. exchange-listed market.
In May 2004, INET's total matched average daily share volume was 507 million shares, or 13.4% of the U.S equity market, consisting of 426 million shares of NASDAQ-listed stocks, or a 25.6% share of the NASDAQ-listed market, and 81 million shares of U.S. exchange-listed stocks, or 3.8% of the U.S. exchange-listed market.
Instinet Group reports additional monthly operating data on its website at www.instinetgroup.com under the heading "Investor Relations - Instinet Trading Activity."
May April May
2005 2005 2004
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# of Trade Days 21 21 20
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Instinet (1)
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Total U.S. equity average daily volume (million
shares) 89 106 104
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Share of total U.S. equity market 2.3% 2.5% 2.7%
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INET - Matched Average Daily Volume (2)
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NASDAQ-listed equity share volume (million shares) 428 507 426
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Share of total NASDAQ market 25.6% 27.7% 25.6%
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U.S. exchange-listed share volume (million shares) 79 93 81
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Share of total U.S. exchange-listed market 3.7% 3.9% 3.8%
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Total U.S. equity share volume (million shares) 507 600 507
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Share of total U.S. equity market 13.3% 14.3% 13.4%
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Monthly totals may not reflect weekly data, which are preliminary.
The number of trading days in each period takes account of U.S. market
holidays and any other U.S. market closings. Instinet volume has been
restated to include volume of Bridge Trading Company which was
acquired on March 31, 2005.
1. For a description of how we calculate Instinet's transaction
volumes, see "Management's Discussion and Analysis of Financial
Condition and Results of Operations - Calculation of Volume -
Instinet, The Unconflicted Institutional Broker" in our Form 10-Q
for the fiscal quarter ended March 31, 2005.
2. For a description of how we calculate INET's transaction volumes,
see "Management's Discussion and Analysis of Financial Condition
and Results of Operations - Calculation of Volumes - INET, The
electronic marketplace" in our Form 10-Q for the fiscal quarter
ended March 31, 2005.
Instinet has experienced significant seasonality in its business,
and period-to-period comparisons of operating results are not
necessarily meaningful, nor are the results for any period necessarily
indicative of results for any future period.
About Instinet Group
Instinet Group, through affiliates, is the largest global electronic agency securities broker and has been providing investors with electronic trading solutions and execution services for more than 30 years. We operate our two major businesses through Instinet, LLC, The Institutional Broker, and Inet ATS, Inc., The electronic marketplace.
Instinet, The Institutional Broker, gives its customers the opportunity to use its sales-trading expertise and advanced technology tools to interact with global securities markets, improve trading performance and lower overall transaction costs. Through Instinet's electronic platforms, customers can access other U.S. trading venues, including NASDAQ and the NYSE, and almost 30 securities markets throughout the world. Instinet acts solely as an agent for its customers, including institutional investors, such as mutual funds, pension funds, insurance companies and hedge funds. Lynch, Jones & Ryan, Inc., Instinet Group's commission recapture subsidiary is also a part of Instinet.
INET, The electronic marketplace, represents the consolidation of the order flow of the former Instinet ECN and former Island ECN, providing its U.S. broker-dealer customers one of the largest liquidity pools in NASDAQ-listed securities.
This press release is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.
©2005 Instinet Group Incorporated and its affiliated companies. All rights reserved. INSTINET and INET are service marks in the United States. Instinet, LLC (branded Instinet, The Institutional Broker), member NASD/SIPC, Inet ATS, Inc. (branded INET, The electronic marketplace), member NASD/NSX/SIPC and Lynch, Jones & Ryan, Inc., member NASD/SIPC are subsidiaries of Instinet Group Incorporated, which is part of the Reuters family of companies.
This news release may be deemed to include forward-looking statements relating to Instinet Group. Certain important factors that could cause actual results to differ materially from those disclosed in such forward-looking statements are included in Instinet Group's Annual Report on Form 10-K for the fiscal year ended December 31, 2004, and other documents filed with the SEC and available on the Company's website at www.investor.instinetgroup.com.
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Contact:
Instinet Group Incorporated
Investor and Media Contact:
Lisa Kampf, 212-231-5022
lisa.kampf@instinet.com
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Source: Instinet Group Incorporated
Source: Business Wire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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