Instinet Europe, a provider of electronic trading and agency-only brokerage, has filed an application with the UK’s Financial Conduct Authority (FCA) to be recognized as an authorized payment institution.
The approval will allow the firm to provide a new segregated cash management and payment service solution to clients who prefer to operate a hard dollar ‘research payment account.’
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Instinet said that the payment service solution will offer clients long term optionality, continuity and stability as they spearhead the evolving regulatory landscape.
The solution will expand Instinet’s existing commission management business, having seen commission sharing arrangement (CSA) balances double year on year, and hit a new record high in February 2015.
Instinet Europe CEO Adam Toms said: "Instinet’s CSA platform remains a core part of our business in Europe, and we have experienced significant growth in this area in recent years. Applying to become an authorised Payment Institution, enables Instinet to offer our clients the flexibility to choose a solution that works best for them."
Instinet provides clients with Commission Management solutions to manage their investment research payments through CSAs.
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