Instinet Bids For Bank Support, Sees Rise in Income
ORGANIZATION AND STRATEGY
NEW YORK--In an apparent bid to boost the sagging fortunes of its fixed-income unit, Instinet is in "detailed negotiations" with two major banks to supply liquidity and product support for the company's activities in that area, says CEO Doug Atkin.
As part of the deal, the two as-yet undisclosed banks will have the right to acquire an ownership stake in the Instinet Fixed Income unit, currently wholly owned by Instinet. Officials at Instinet have historically been cagey about how business has
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