Instinet Expands Its Block Trading Solution BlockCross to Japan

Instinet Incorporated (Instinet), the agency broker owned by Nomura, has rolled out its BlockCross, a workflow solution for managing block trading in securities, in Japan, furthering its expansion in Asia this year.

Currently, BlockCross has connected to NX, Nomura's dark pool in Japan.

"NX is the largest Japanese dark pool which adds value for both international and domestic investors, and its liquidity is a game changer," said Gael Vasseur, Head of Global Execution Services, Japan at Nomura.

The introduction of BlockCross to Japan marks a significant and exciting milestone in the growth of Instinet's suite of innovative block trading solutions across Asia, notes Ned Millington Buck, Head of BlockCross, Asia Pacific at Instinet.

"Leveraging the broad capabilities and harmonized expertise of Nomura & Instinet's unified Global Execution Services (GES) platform, we offer clients a solution that incorporates the anonymous blotter-integrated crossing technology of Instinet’s BlockCross with Nomura's scale, strength of client franchise and balance sheet," he added.

"With Nomura's partnership, our connection to the NX dark pool, and the breadth of unique domestic liquidity available, we're delivering a compelling option for investors seeking to elevate execution performance."

This launch follows Instinet's appointment of Gerry Milligan​ as President and Head of the Americas for Instinet, LLC.