Instinet Sells MarketPrizm Stake

U.K. telecom company,Colt, will acquire a majority stake in trading technology group,MarketPrizmfromInstinet,金融时报》reports. Colt will not pay an initial price for MarketPrizm, however, it will fund the next stage of the company’s growth.

MarketPrizm will sit as an independent subsidiary within Colt, butNomurawill retain a minority stake through Instinet.Rakesh Bhasin, CEO of Colt will serve as Chairman of MarketPrizm, whileJohn Lowrey, MarketPrizm’s CEO, will sit on the board in an advisory role and as a representative of Nomura.

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