The deal is expected to close in the first quarter of next year. Instinet CEO Edward J. Nicoll will continue in his role, as will other senior executives, with Nomura running Instinet as a wholly owner subsidiary.
“Nomura is one of the world’s premier financial services firms, and we are excited to join its family,” Nicoll said in a statement. “This deal will allow us to continue offering our institutional clients around the world the high quality execution services that they have come to expect from Instinet, while adding access to Nomura’s various investment product offerings and global liquidity pool.”