Instinet Adds Connectivity to LeveL

Business Wire,  April 14, 2008  

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NEW YORK -- Instinet, a global securities firm and wholly-owned subsidiary of Nomura Holdings, Inc., today announced that its U.S. broker-dealer, Instinet, LLC, has connected to LeveL ATS. LeveL becomes the latest U.S. dark pool clients can access through any of the algorithms in the Instinet Execution Experts suite.

"Institutional clients continue to express dissatisfaction in dealing with the great number of dark liquidity pools now available. Based on this feedback, we have embraced a philosophy of openness throughout our organization by attempting to partner with all significant dark liquidity providers, which we believe is in both our clients' and the industry's best interests," said Michael Plunkett, President of Instinet, LLC.

"Instinet's high-speed order delivery is well-aligned to benefit from LeveL ATS's unique framework and growing liquidity pool," said Whit Conary, President of Level ATS. "Customers of LeveL, like Instinet, realize improved execution quality, anonymity for order handling, and a mechanism for enhanced, innovative and flexible order types."

About LeveL ATS

LeveL is a unique ATS created by the eBX Group, LLC with assistance from five industry leaders: Citi, Credit Suisse, Fidelity Brokerage Company, Lehman Brothers and Merrill Lynch. LeveL is a dark book trading platform that provides for multi-tiered crossing opportunities. LeveL's innovative structure maximizes liquidity and provides best execution while minimizing information leakage and market impact.

About Instinet

Instinet provides the necessary trading tools, ATS platforms and liquidity to achieve a high-quality trade execution in more than 40 countries. Acting solely as an agent for more than 1,500 clients around the world, Instinet seeks to improve institutional investment performance and lower overall trading costs through its various front-end trading systems, securities crossing networks, smart-routing technology, algorithms, commission management programs and investment research products. Instinet's subsidiaries operate a wide array of ATS platforms globally, including CBX(SM) in the United States, JapanCrossing(SM) in Asia and Chi-X([R]) in Europe, Canada and, soon, Australia. Instinet is a wholly-owned subsidiary of Nomura Holdings, Inc., and has offices in North America, Europe and the Asia-Pacific region. For more information, please visit www.instinet.com.

(c)2008 Instinet, LLC. All rights reserved. INSTINET is a registered service mark in the United States and in other countries throughout the world. Instinet, LLC is a member of SIPC.

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