MB Trading Selects Instinet Corp. for Trade Clearing Services
Business Editors
EL SEGUNDO, Calif.--(BUSINESS WIRE)--Aug. 1, 2000--
Deal with Instinet Clearing Services Inc. (ICS) Enhances Quality of
Service and Increases Trading Functionality for Online Investors
MB Trading Inc., a premier direct access online broker, today
announced that its broker-dealer Terra Nova Trading, L.L.C. has
selected Instinet Clearing Services Inc. (ICS) as its clearing firm.
ICS is an affiliate of Instinet Corp., one of the world's largest
agency brokers and a wholly owned subsidiary of Reuters Group PLC
(Nasdaq:RTRSY).
The agreement provides MB Trading's extensive client base of
online investors with dramatically improved clearing service, as well
as significant new investing opportunities.
"We are extremely excited about partnering with ICS. The company's
expertise will allow our clients to monitor their accounts
efficiently. With detailed information, provided in a simple format,
our clients will have increased knowledge about the status of their
trading activities," said Ross Ditlove, co-founder and partner of MB
Trading. "Instinet was selected based on the company's leadership
position in the e-securities marketplace, profitability,
capitalization and solid reputation -- as well as its assurance of
providing top quality service, which supports MB Trading and Terra
Nova Trading's ongoing commitment to provide the best possible
solution for our clients."
Daniel Rosenthal, CEO of Instinet Clearing Services Inc.
commented, "Active traders demand sterling accuracy and stability in
their account processing services, and Instinet Clearing Services
delivers precisely that. Individual traders and institutional
investors alike can count on exceptional handling of this
mission-critical need."
Launched in 1997 in El Segundo, Calif., by institutional brokers,
MB Trading offers a powerful, real-time software solution for clients
who demand the highest level of service, reliability and speed for
their order entry and trade executions. They provide a level of
sophistication to their clients that far surpasses the more
traditional forms of brokerage or online trading systems. More than
3,500 individual and institutional active traders use MB Trading's
services, whether online, at the office or at home.
ICS provides post-execution services and financing to various
Instinet execution and customer facing brokerage operations as well as
to non-affiliated third party firms. Presently, the ICS offering
includes trade allocation, custody and settlement for the
institutional community, as well as margin, customer accounting, cash
management, and non-equity products for the retail brokerage
community.
The risk of loss in electronic day trading can be substantial. You
should therefore consider whether such trading is suitable for you in
light of your circumstances and financial resources. MB Trading Inc.
is a branch of Terra Nova Trading, L.L.C, member NASD, SIPC and PSE.
2000 MB Trading. |
