Nomura Will Transfer Electronic Trading in U.S. to Instinet Unit

Nomura Holdings Inc., Japan’s largest brokerage, will use its New York-based Instinet Inc. unit as its main electronic trading arm.

The broker will transfer electronic trading in the U.S. to Instinet, an operator of alternative platforms, according to two people who have been briefed on the decision and declined to be named because the information isn’t public. The Japan branch of Instinet will be closed and folded into Nomura’s local trading operation, the people said. The Hong Kong, Singapore and Sydney offices remain open while no decision has been made in regards to Europe, they said.