On Monday, October 27, Island/Instinet will begin the process of merging their two ECNs. This process will be completed by the end of the year. At that time traders will send orders & get quotes from INET, and both INCA and ISLD will be gone......
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Instinet Group to Change Stock Symbol to 'INGP', Effective October 27
Business Wire - Thursday, October 23, 2003
NEW YORK--(BUSINESS WIRE)--Oct. 23, 2003--Instinet Group Incorporated (Nasdaq: INET) will change its stock symbol for its listing on NASDAQ to "INGP", effective October 27, 2003.
The company is in the process of combining its Instinet ECN and Island ECN into one electronic marketplace, branded INET. It is changing its stock symbol to "INGP" from "INET" in order to maintain Instinet Group Incorporated as an entity distinct from INET, the soon-to-be-combined electronic marketplace.
The stock symbol will change effective the start of U.S. market trading on Monday, October 27, 2003.
About Instinet
Instinet, through affiliates, is the largest global electronic agency securities broker and has been providing investors with electronic trading solutions for more than 30 years. Our services enable buyers and sellers worldwide to trade securities directly and anonymously with each other, have the opportunity to gain price improvement for their trades and lower their overall trading costs. Instinet is part of the Reuters family of companies.
Through our electronic platforms, our customers can access over 40 securities markets throughout the world, including NASDAQ, the NYSE and stock exchanges in Frankfurt, Hong Kong, London, Paris, Sydney, Tokyo, Toronto and Zurich. We also provide our customers with access to research generated by us and by third parties, as well as various informational and decision-making tools. We act solely as an agent for our customers and do not trade securities for our own account or maintain inventories of securities for sale.
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.
(C) 2003 Instinet Corporation and its affiliated companies. Member NASD/SIPC, a registered investment adviser with the SEC, and a subsidiary of Instinet Group Incorporated. All rights reserved. INSTINET is a registered service mark in the United States and in other countries throughout the world. Approved for distribution in the UK by Instinet Europe Limited which is authorised and regulated by the Financial Services Authority and is a member of the LSE.
This news release may be deemed to include forward-looking statements relating to Instinet. Certain important factors that could cause actual results to differ materially from those disclosed in such forward-looking statements are included in the Instinet Annual Report Form 10-K dated for the period ended December 31, 2002 and other documents filed with the SEC and available on the Company's web site at www.instinetgroup.com. |
