What is Inet?
Inet was an electronic trading platform based on a system developed by Instinet in the 1970s that merged with Island ECN in 2002 and was acquired by Nasdaq in 2005. The Inet name continues to be used by Nasdaq for later trading platforms.
Where have you heard about Inet?
You'll probably have heard about it in connection with the Nasdaq. INET Nordic, for example, is the Nasdaq trading platform for Nordic and Baltic equities trading. In 2009 Nasdaq announced the rollout of new enhancements and upgrades to its INET core trading technology.
What you need to know about Inet.
Inet, like other electronic communication networks, was an order-pairing system that gave brokerage firms the power to electronically track and match reciprocal buy and sell orders at the same limit price and lot size. It was an efficient and reliable system, lowering costs for brokerage firms and investors and facilitating high speed pairings of buy and sell orders.
Today the Nasdaq stock exchange system in New York is called INET. Following Nasdaq's acquisition of the Swedish OMX exchange group in 2007, it gained access to OMX's trading platform Genium, and used this to create the next generation of Inet called the Genium Inet trading platform.