ADP Offers INET as Execution Point
July 19 2004 - 8:30AM
PR Newswire (US)
ADP Offers INET as Execution Point NEW YORK, July 19
/PRNewswire-FirstCall/ -- ADP Brokerage Services Group, a division
of Automatic Data Processing, Inc. (NYSE:ADP), announced today that
it is offering its clients access to INET (Inet ATS, Inc.), a
subsidiary of Instinet Group Incorporated (NASDAQ:INGP), and one of
the largest electronic marketplaces for U.S. over-the-counter
securities, as a new execution point on its order processing
network. (Logo:
http://www.newscom.com/cgi-bin/prnh/20021125/NYM018LOGO ) With the
availability of the INET connection, clients can immediately begin
their individual setup and testing process to establish INET as a
destination on their ADP Order Routing networks. The addition of
INET provides ADP's order processing clients with the ability to
post their customers' limit orders in the marketplace that
currently holds a 25 percent share of the total U.S. market in
NASDAQ-listed equity trading.* "We believe ADP's clients stand to
benefit enormously," said Alex Goor, President, Inet ATS, Inc. "By
placing their limit orders on one of the largest electronic
marketplaces, ADP's clients have the opportunity to fulfill their
best execution requirements, while at the same time receiving
rebates for trades that add liquidity to the marketplace." "As
always, we strive to provide our clients with the best possible
products and World Class service. By proactively expanding our
network of execution points, we are giving our clients more options
to meet their needs," said Marianne Brown, Senior Vice President
and General Manager, ADP Brokerage Processing Services. About ADP
Brokerage Services Group As the premier provider of transaction
services to the financial industry, ADP has the capacity and
technological expertise to assist its clients in differentiating
themselves in the marketplace. ADP brings to financial
intermediaries advanced, integrated systems for securities
processing, desktop productivity and investor communication
services, all focused on providing solutions for straight through
processing and World Class Service. With more than $7 billion in
annual revenues and 500,000 clients, ADP is one of the largest
independent computing services firms in the world. For more
information about ADP Brokerage Services Group, please visit our
web site at http://www.bsg.adp.com/ and for other ADP services and
investor information, please visit http://www.adp.com/. About INET
INET, the Electronic Marketplace, provides its more than 800 U.S.
broker-dealer subscribers access to one of the largest electronic
marketplaces for U.S. over-the-counter securities, with
approximately 25 percent of NASDAQ-listed equity trading.*
Representing the consolidated order flow of the former Instinet ECN
and former Island ECN, INET collects, prioritizes, displays and
matches orders within its subscriber network and, through the use
of advanced technology, offers routing services for its
U.S.-registered broker-dealer subscribers. INET's trading platform
is fast, anonymous, reliable and cost-efficient, designed for
scalability in high-speed, high-volume electronic trading. Inet
ATS, Inc. (branded as INET) is a subsidiary of Instinet Group
Incorporated (NASDAQ:INGP), which is part of the Reuters family of
companies. This news 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. While Instinet Group believes the
information contained herein is reliable, we do not guarantee its
accuracy, and it may be incomplete or condensed. These statements
speak only as of this news release and Instinet undertakes no
obligation to update publicly any of the information contained
herein, in light of new information or future events. INET and the
INET logo are service marks in the United States. Inet ATS, Inc.,
member NASD/NSX/SIPC, branded as INET, is a subsidiary of Instinet
Group Incorporated. * For a description of how we calculate INET's
share volumes, see "Management's Discussion and Analysis of
Financial Condition and Results of Operations - Calculation of
Volume - INET, the Electronic Marketplace" in our Form 10-Q for the
fiscal quarter ended March 31, 2004 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, 2003 and other documents filed with the
SEC and available on the Company's web site. Press Contacts: Mike
West Dorothy Friedman ADP Brokerage Services Group ADP Brokerage
Services Group +44 207 551 3224 (International) +1 212 918 6920
(U.S.)
http://www.newscom.com/cgi-bin/prnh/20021125/NYM018LOGODATASOURCE:
ADP Brokerage Services Group CONTACT: Mike West, +44-207-551-3224
(International), , or Dorothy Friedman, +1-212-918-6920 (U.S.), ,
both of ADP Brokerage Services Group Web site:
http://www.bsg.adp.com/
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