☰

Chi-X Europe Extends Trading Services to French Stocks


    Chi-X(R) Europe Limited, a pan-European equity alternative trading
    system (ATS), today announced that it is successfully trading,
    clearing and settling the component stocks of the CAC 40.

    Chi-X Europe already offers trading for the FTSE 100, Dutch AEX
    25, German DAX 30 component stocks, and will continue to introduce
    trading for further European markets once MiFID comes into effect on 1
    November 2007.

    Chi-X Europe's trading offering is complemented by the central
    clearing and settlement services of Fortis' European Multilateral
    Clearing Facility (EMCF) entity. French Stocks will be settled on
    Euroclear France and will be fully fungible for clients whether traded
    on Chi-X Europe or the primary market.

    "Having successfully introduced the FTSE 100, AEX 25 and DAX 30
    index constituents earlier this year, we are pleased to extend
    coverage to these French stocks. Our early results point to an
    encouraging start in the task of attracting, servicing and maintaining
    significant new sources of European liquidity," commented Peter
    Randall, Director of Chi-X Europe Limited.

    About Chi-X(R) Europe

    Chi-X Europe Limited, an indirect subsidiary of Instinet
    Incorporated, is an FSA-authorised securities firm operating as an
    Alternative Trading System (ATS) and, once MIFID goes into effect,
    Multi-Lateral Trading Facility (MTF) for the trading of a wide range
    of European equities.

    Chi-X Europe's low-cost, streamlined model is designed to help
    institutional investors achieve ultra-low execution, clearing and
    settlement costs. Both internal and external benchmark tests showed
    the Chi-X Europe operating model to be up to 10 times faster* and
    significantly less expensive than Europe's traditional equity
    exchanges. Chi-X Europe disseminates market data to clients directly
    and via third-party market data vendors at no cost, and trade
    reporting is available for a low monthly fee. For more information,
    please visit www.chi-x.com.

    * Based on Instinet Europe Limited's exchange linkages performance
    measurement statistics for average DMA order messaging in June 2007.
    These Instinet internal figures are for round-trip latency message
    acknowledgement based on sending an average number of messages to the
    exchange system and obtaining a response back to Instinet's system
    over the course of a normal trading day. They are provided for
    illustrative purposes only and are not intended to represent an
    independent performance measure of latency. Market volatility and
    volume may affect actual performance.

    About Instinet

    Instinet, through its subsidiaries, is a global agency broker,
    providing the trading expertise and advanced technology necessary to
    successfully interact with more than 60 securities markets worldwide.
    Acting solely as an agent for its customers, 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 also operates a
    wide array of ATS platforms around the world, including CBX(SM),
    Chi-X(R) Europe and JapanCrossing(SM). The firm, which is a
    wholly-owned subsidiary of Nomura Holdings, Inc., has offices in North
    America, Europe and the Asia-Pacific region. For more information,
    please visit www.instinet.com.

    (C)2007 Instinet, LLC. All rights reserved. INSTINET and CHI-X are
    registered service marks in the United States and in other countries
    throughout the world. Approved for distribution in Europe by Chi-x
    Europe Limited, which is authorised and regulated by the Financial
    Services Authority. Instinet, LLC, member FINRA/SIPC.