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Virtu prepares for Mifid shake-up with Instinet equities deal 

June 26, 2017

Philip Stafford, Financial Times

"Virtu Financial has become the first electronic market maker to publicly indicate how it will adapt to new European share trading rules by striking a deal with Instinet Europe, the agency broker.

The US group, one of the largest players on global equity markets, said on Monday it will supply price quotes to underpin off-exchange equities deals for Instinet, owned by Japan’s Nomura.

The tie-up comes as exchanges, brokers and regulators count down the final six months for Europe’s new markets rules, which are intended to clamp down on the amount of deals banks can execute via their own internal trading desks and push them back on to stock exchanges."

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