The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Best non-bank site for equity trading

Best non-bank site for equity trading
Island

Island wins the award for best non-bank site for equity trading because it is a simple and efficient platform that offers a lot of liquidity. “Trading stocks is a commodity business,” says Jack Vensel, vice-president of sales at Island. “We need to be faster and more reliable than anyone.”

In August of this year, Island executed 11.9% of Nasdaq trades, beating Instinet by 1.5%. This was despite having fewer than half as many Nasdaq orders on its book, and despite being only three years old compared with Instinet’s 30 years.

“I think Island is terrific,” says Scott Gruder, an OTC trader at Win Capital. “I found Instinet extremely expensive so I went to Inlet [Island’s web-based platform], and I hardly use Instinet now. In the past four to five months, since I’ve been using it, I do about 50% of my business on it. I think it is the first preference of a lot of users, which is great for me.”

Island claims it can receive, match and confirm trades in three milliseconds. It also says that its system can handle up to the combined total volume of trade at both the New York Stock Exchange and Nasdaq on their heaviest trading days.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree