NeoNet Plans to Connect to the Milan and virt-x Stock Exchanges in Europe and to the NYSE in the US
8/24/2001 2:01 AM EST
NeoNet Plans to Connect to the Milan and virt-x Stock Exchanges in
Europe and to the NYSE in the US
NeoNet, a leading provider of real-time equity trading services for
institutional investors and broker-dealers, announced today that it
plans to connect to virt-x (Zurich Stock Exchange and Tradepoint) and
the Milan Stock Exchange next year. With the addition of these
exchanges, NeoNet's clients will then, through a single point of entry,
have direct electronic trading access to approximately 90% of the
European market capitalization in addition to the NÁSDAQ connection that
is planned to be brought live second quarter of 2002. In mid 2003 NeoNet
also plans to offer trading in the US listed market (NYSE).
NeoNet currently offers direct electronic trading access to the stock
exchanges in London, Frankfurt, Stockholm, Helsinki and Copenhagen. The
Euronext Exchange, which is the merger between the Paris, Brussels, and
Amsterdam stock exchanges, will be electronically connected this year.
NeoNet has successfully linked together the different trading platforms
of many of the European stock exchanges via its own exchange
memberships. With the connection to virt-x and the Milan Stock
Exchanges, NeoNet will be offering a pan-European product for electronic
stock market trading that covers approximately 90% of the European stock
market capitalization.
"The decision to also add trading on the NYSE, virt-x and Milan Stock
Exchanges are the final step in implementing our strategy of connecting
to 80% of the world's market capitalization by 2003," said Torvald
Bohlin, CEO of NeoNet."
About the Milan Stock Exchange
Borsa Italiana is the company responsible for organizing and managing
the Italian stock exchange, which was created at the end of 1997 by the
privatization of the stock exchange and has been operational since
January 2, 1998.
About virt-x
virt-x was created in February 2001 through the collaboration of
Tradepoint Financial Networks plc (now renamed virt-x plc), the TP
Consortium (TP Group LDC) and the SWX Swiss Exchange to provide an
efficient and cost-effective exchange for Swiss and pan-European blue
chips.
For further information, please contact:
Torvald Bohlin
CEO of NeoNet
Tel. + 46 8 454 15 39
NeoNet is a leading provider of real time equity execution services for
institutional investors and broker-dealers. Through its electronic
execution network NeoNet provides its clients with efficient, secure and
anonymous access to currently over 50 % of the equity market
capitalization in Europe. NeoNet focuses on providing single access to
multiple securities markets worldwide. Currently NeoNet has clients in
eleven countries including the U.S. NeoNet has over 60 employees with
offices in Stockholm and New York and is listed on Stockholmsbörsen.
NeoNet AB (publ), P.O. Box 7545, SE-103 93 Stockholm, Sweden
Tel: +46 8 454 15 00, Fax: +46 8 10 40 84
www.neonetsecurities.com