Instinet, the institutionally-based stock-trading network, announced plans
earlier in the year to launch a brokerage for retail investors. As part of the retail push, the "electronic communications network" or ECN is developing a mutual fund marketplace, according to an official close to the story.
Instinet, a subsidiary of
Reuters Group, has hired
John Vrettos, the former managing director, strategic planning for the
National Securities Clearing Corporation (NSCC) to develop the new platform. Instinet spokespeople would not comment on specific mutual fund trading plans.
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