It's been a year of consolidation in the investment technology field. It now appears that electronic trading pioneer Instinet is for sale.
The Instinet Group, a key player in the ruthless institutional trading business, allows its 1,500 institutional customers to trade securities directly or anonymously with each other across 40 global markets.
The category has seen its margins cut paper-thin, which makes it ripe for consolidation. There have been numerous mergers and acquisitions this year. According to reports, Instinet has hired UBS to auction the company to the highest bidder.
to read the article from the Motley Fool.