Nomura Holdings, Inc. : Instinet Named "Preferred Broker" by the Applied Finance Group(PDF 246KB)

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Instinet Named "Preferred Broker" by the Applied Finance Group

NEW YORK - January 7, 2013 - Instinet Incorporated , an independent, global agency-only broker*, today announced that its Instinet, LLC subsidiary has been named

Applied Finance Group's (AFG) "Preferred Broker".
Founded by Rafael Resendes and Daniel Obrycki, AFG is a leading independent equity research firm whose cash flow analyses and valuation framework help money managers and quantitative-driven clients better understand corporate performance relative to market expectations.
"AFG is a highly-rated provider of fundamental and quantitative research, so we were obviously very pleased to be named the preferred broker of such a well-regarded firm," said Jonathan Kellner, Head of the Americas Region at Instinet. "Instinet has long been a global supporter of independent research and in particular these types of relationships, which we see as being beneficial to the providers, the buy side and the industry overall."
"By partnering with Instinet, our clients will leverage one of the most advanced global execution and commission management platforms available," said Chris Austin, Director of Marketing and Sales at AFG. "The fact that Instinet is also an agency-only broker, whose values align incredibly well with ours as an independent research provider, made the agreement that much more appealing to us."

AFG is the third firm to designate Instinet a Preferred Broker, joining FactSet and Zelman & Associates. In addition, seven independent research firms rely on Instinet for third-party marketing support through the

Instinet Access ™ program.

* through regional brokerage subsidiaries

About Instinet

Instinet, a global agency-only broker*, is the independent equity trading arm of the

Nomura Group . Through its advanced suite of electronic trading tools, experienced high-touch trading group and unparalleled access to insightful content and unique agency-only liquidity, Instinet helps institutions globally lower overall trading costs and ultimately improve investment performance. Over the course of its 40+ year history, Instinet has introduced a range of now industry-standard trading technologies as well as the world's first major electronic trading venue, one of the first U.S. ECNs and, most recently, the Chi-X businesses. For more information, please visit instinet.com or follow Instinet on Twitter.

* through regional brokerage subsidiaries

HIGH-TOUCH TRADING | FRONT-END TECHNOLOGY | ALGORITHMIC TRADING | LIQUIDITY SOURCING | TRANSACTION ANALYSIS | COMMISSION MANAGEMENT | INDEPENDENT RESEARCH

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About the Applied Finance Group, Ltd. (AFG)

The Applied Finance Group (AFG) helps institutional investment, consulting and corporate firms globally in accurately measuring corporate performance and identifying mispriced equities. AFG developed its proprietary framework, Economic Margin, to correct distortions created by traditional accounting-based analysis.
The Economic Margin Framework is more than just a performance metric, as it encompasses a valuation system that explicitly addresses the four main value drivers of enterprise value: profitability, competition, growth and cost of capital. Unlike traditional valuation approaches that utilize highly sensitive perpetuity assumptions, AFG's approach incorporates company specific competitive advantage periods which identify companies that may lose excess returns over time faster than their competitors.

Media Contacts

Mark Dowd
Global Marketing and Communications, Instinet
Phone: [phone]
Mobile: [phone]
Email: [e-mail]
Chris Austin
Director of Marketing and Sales, AFG Phone: [phone]
Email: [e-mail]

©2012, Instinet Incorporated and its subsidiaries. All rights reserved. INSTINET is a registered trademark in the United States and other countries throughout the world. Approved for distribution: in Australia by Instinet Australia Pty Limited (ACN: 131 253 686 AFSL No: 327834), which is regulated by the Australian Securities & Investments Commission; in Canada by Instinet Canada Limited and Instinet Canada Cross Limited, members IIROC/CIPF; in Europe by Instinet Europe Limited, which is authorized and regulated by the Financial Services Authority; in Hong Kong by Instinet Pacific Limited, which is authorized and regulated by the Securities and Futures Commission of Hong Kong; in Singapore by Instinet Singapore Services Private Limited, which is regulated by the Monetary Authority of Singapore, a trading member of The Singapore Exchange Securities Trading Private Limited and a clearing member of The Central Depository (Pte) Limited; and in the US by Instinet, LLC, member SIPC.

HIGH-TOUCH TRADING | FRONT-END TECHNOLOGY | ALGORITHMIC TRADING | LIQUIDITY SOURCING | TRANSACTION ANALYSIS | COMMISSION MANAGEMENT | INDEPENDENT RESEARCH