Instinet is a professional stock trading system, founded by Reuters and now owned by Nomura. Institutions use the system to trade large blocks of shares with each other without using the public stock exchanges. Commissions are slightly negotiable but generally low.
Instinet also runs a crossing network of the NYSE last sale at 6pm. A “cross” is a trade in which a buyer and seller interact directly with no assistance of a market maker or specialist. These buyer-seller pairs are commonly matched up by a computer system such as Instinet.
Visit their web site: http://www.instinet.com/
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Contributed-By: Jeffrey Benton