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March 31, 2005

Instinet Group completes Bridge Trading purchase

Instinet Group, an electronic agency brokerage, has completed its acquisition of agency execution broker Bridge Trading Company from Reuters for $21.5 million in shares of INGP stock.

By CBR Staff Writer

St. Louis, Missouri-based Bridge Trading has received regulatory approval and the transaction, according to Instinet, is expected to be accretive to its shareholders in the first year.

Instinet said it hopes to use the company to grow its client base, increase exchange-listed trading volume and expand its offerings to the institutional investor community. Bridge Trading, meanwhile, plans to offer Instinet’s services, including its trading technology and front-ends, to its US institutional clients.

Bridge Trading will operate as an independent broker-dealer and retain its name for a transitional period.

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