NeoNet Provides Macgregor With Direct Access to Global Stock Exchanges
11/18/2002 3:01 AM EST
NeoNet, an international agency broker that provides electronic equity
execution services for institutional investors and broker-dealers, today
announced that it will provide Macgregor, a global provider of buy-side
trade order management systems (OMS) and FIX network services, with
access to NeoNet's global equity execution network. Macgregor has 80 of
the world's largest institutions as clients.
NeoNet will connect to Macgregor's OMS, the Macgregor Financial Trading
Platform (MFTP) and to the Macgregor FIX Network (MFN), offering
Macgregor's clients access to approximately 85 percent of Europe's
equity market capitalization and to Nasdaq. Through a single point of
entry, NeoNet offers trading access to global markets, including the
Nasdaq, London, Frankfurt, Paris, Amsterdam, Brussels, Milan, Stockholm,
Helsinki, Copenhagen and Oslo stock exchanges. NeoNet also plans to add
connections to the New York Stock Exchange and Virt-x.
"We are excited to offer our clients access to NeoNet which will serve a
unique role among the other 140 liquidity destinations on our network,"
said Steven Levy, President and CEO at Macgregor. "For the first time,
this will provide our clients with direct access to European exchanges.
Cross border trading has become an important area of growth for many of
our clients and NeoNet's platform offers them the unbiased membership
access that they desire as they execute trades in global markets."
"With the continued volatility in the U.S. markets, investors are
diversifying more by investing in European securities," said Torvald
Bohlin, CEO of NeoNet. "NeoNet's platform enables institutional
investors to execute their global trading strategies efficiently and
with the lowest market impact. Integrating NeoNet's member exchange
connections coupled with Macgregor's Trading Platform and FIX Network
enhances the powerful new trading tools and access to new pools of
liquidity currently being offered to their clients."
About Macgregor
Founded in 1991, Macgregor has set the standard in trade order
management systems for the global buy-side community. Macgregor's unique
architectural approach to developing workflow solutions is embodied in
its Extended Order Management System, the Macgregor Financial Trading
Platform (MFTP) which combines powerful decision support, compliance,
trading and post-trade tools with a fully integrated and supported FIX
network (MFN). This system helps move information through the entire
investment process with increased speed, accuracy, and efficiency,
resulting in better investment performance. With over 220 employees
located in offices in Boston, New York, San Francisco, London and
Madrid, Macgregor helps more than 80 of the largest institutions in the
world manage over $5.5T in global assets.
For further information, please contact:
Company contacts:
Torvald Bohlin Magnus Karlsson
CEO of NeoNet Communications, NeoNet
Tel. +46 8 454 15 39 +46 8 454 15 46
U.K. PR-agency contact:
Stefanie Davidson/Tom Coombes, Cognito
+44 20 7936 9058
Through NeoNet, clients have electronic direct trading access to one
third of the world's equity market capitalization. As an agency broker,
NeoNet provides institutional investors and broker-dealers with an
exchange network for electronic trading on the world's leading stock
exchanges. Clients can also trade over NeoNet's international trading
desk. Focused on providing a single point of access to multiple equity
markets worldwide, NeoNet has 78 employees with offices in Stockholm,
New York and London, is listed on the Stockholm Stock Exchange (ticker
NEO), and has clients in twelve countries including the U.S. and U.K.
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