WilmerHale Advises Instinet in its Purchase of FIS Execution Services

WilmerHale Advises Instinet in its Purchase of FIS Execution Services

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On October 19, 2022, Instinet Holdings Incorporated announced the firm has completed the purchase of the FIS® Execution Services business (formerly known as “Fox River”) from FIS. The original purchase agreement was announced on June 8, 2022. The new offering, which will be rolled out initially in the Americas, will be called Instinet Fox River Quant Solutions.

The Execution Services team provides buy- and sell-side firms, and in particular many of the industry’s leading quant-driven funds, a suite of leading execution solutions. Trading algorithms and execution services, including Direct Market Access and Sales Trading, are some of the key products. Instinet Fox River Quant Solutions will be delivered to clients as part of Instinet’s Execution Services business, alongside the firm’s existing suite of Core Solutions. The goal is to ensure that clients will continue to have choices and consistency in their trading experience. The firm intends to test, identify, and optimize opportunities to help clients benefit from the best of both offerings, and enhance their ability to achieve best execution.

The WilmerHale legal team advising Instinet included Stephanie Evans, Judd Abramson, Brendan Catalano and Taylor Mielnicki advising on corporate matters, Scott Kilgore and Michael Lenzi advising on employment and benefits matters, Bill Caporizzo and Ben Kelsey advising on tax matters, Ariel Soiffer advising on IP and licensing matters, Paul Jakubowski and Michael Kaplan advising on real estate matters, Bruce Newman advising on regulatory matters, Kirk Nahra advising on privacy matters and Lee Greenfield advising on antitrust matters.

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