Instinet Completes Sale of Fox River Algorithmic Trading to Clear Street

Instinet Completes Sale of Fox River Algorithmic Trading to Clear Street

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On October 1, 2024, Instinet, a Nomura Group subsidiary that provides equity trading services to financial institutions completed its sale of its Fox River algorithmic trading business to Clear Street. Fox River provides a comprehensive suite of algorithmic execution solutions in U.S. and Canadian equities. These offerings cater to buy and sell-side firms, including many of the industry’s leading quant-driven funds.

The WilmerHale team representing Instinet was led by Stephanie Evans, Judd Abramson, Chastity Threadcraft and Kyle Kessler and included Scott Kilgore on employment and benefits matters, William Caporizzo and Ben Kelsey on tax matters and Ariel Soiffer on intellectual property and commercial matters.

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