Instinet Shatters U.S. Volume Records in July

    U.S. brokerage trades one-day firm record 476 million total shares and 62
million in CBX(SM) dark pool

    NEW YORK, August 13 /CNW/ - Instinet, a global agency broker and
wholly-owned subsidiary of Nomura Holdings, Inc., today announced its U.S.
average daily volume for July 2007 was 290 million total shares and 31 million
shares for CBX(SM), its institutional dark pool. Instinet also set a one-day
firm record(1) in the U.S. of 476 million total shares and 62 million shares
traded in CBX on July 26 (see table below for complete trading statistics).

    "While the recent market volatility has increased volumes across the
Street, we were pleased to pick up a disproportionately large piece of the
increase, particularly in the U.S.," said Michael Plunkett, President, North
America at Instinet. "We are especially excited about the exponential growth
we've seen in recent months in the CBX, which has grown into one of the most
substantial continuous dark pools available to institutional clients today."

    Instinet CBX, whose technology powers Instinet's matching platforms
around the world, is an institutional dark pool which passively exposes orders
to Instinet's U.S. order flow of over 1 billion shares daily. The system's low
latency allows orders to be checked for a match without missing other
execution opportunities(2), while Instinet's agency model ensures against
data-mining, reverse engineering or information leakage. It also offers
significant price-improvement potential, with over 80 percent of trades where
the spread was larger than one penny achieving price improvement.(3)

    U.S. Trading Statistics - July 2007
                                Total Agency         CBX       Algorithms
    ------------------------------------------- ------------- ------------
    Average Daily Volume         289,628,676     30,605,536    37,438,573
    ------------------------------------------- ------------- ------------
    Month-Over-Month Increase        14%             65%          11%
    ------------------------------------------- ------------- ------------
    Year-Over-Year Increase          29%            327%          74%
    ------------------------------------------- ------------- ------------

    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 50 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) in the United States, Chi-X(R) in Europe and
JapanCrossing(SM) in Asia. 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

    (C)2007 Instinet, LLC. All rights reserved. INSTINET is a registered
service mark in the United States and in other countries throughout the world.
Instinet, LLC is a member of NASD/SIPC.

    (1) Post institutional agency brokerage/ECN split in 2002.

    (2) Average response time below 10 milliseconds or 1/10 of a second -
TransactTools, January 2007.

    (3) Price improvement is defined as buys where the trade price was less
than the market ask and sells where the trade price was greater than the
market bid. Analysis performed by Instinet of trades executed between March 1,
2007 and April 30, 2007.

For further information:

For further information: Instinet Mark Dowd, 212-310-5331 Corporate

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