NeoNet, a provider of real-time equity trading services for institutional investors and broker-dealers, today announced that it now offers electronic trading access to NASDAQ via its exchange network. Through the company’s electronic exchange network, clients enjoy a single point of access to approximately one third of the world’s stock market capitalization.
NeoNet says its connection to NASDAQ is a major advance in the company’s transition from a pan-European to a global equity trading service. With NeoNet’s global network, clients can reach additional liquidity sources and consolidate European and U.S. trading activities-eliminating the need for several different systems for trading at different exchanges.
“The introduction of electronic trading access to NASDAQ is a major step for NeoNet in reaching our goal of offering trading to our clients on 80 percent of the world’s market capitalization by the end of 2003,”says Torvald Bohlin, CEO of NeoNet. “We already have a strong, high-quality European trading offering and have now integrated uniform NASDAQ trading for our clients.”
“NASDAQ’s strong growth will continue, augmented by the advent of SuperMontage and growing liquidity among ECNs,” according to Fritz McCormick, an analyst at Celent Communications. “This growth, combined with increases in electronic trading worldwide, creates a need for technologies and services like NeoNet’s, which provide a single point of entry and direct access to global markets.”
NeoNet’s global stock exchange network provides secure, real-time access to equity liquidity on leading stock exchanges for institutional investors and broker-dealers. NeoNet avoids any conflict of interest with clients’ trading by acting simply as an agency brokerage.
In addition to NASDAQ, NeoNet also offers electronic trading access to the stock exchanges in London, Frankfurt, Paris, Amsterdam, Brussels, Stockholm, Helsinki, Copenhagen and Oslo. NeoNet also plans to connect to the Milan and Virt-x stock exchanges and the next target is to offer trading access to the New York Stock Exchange in 2003.