Stockholm, 17 November 2003 - NeoNet, an international agency brokerage
providing efficient electronic equity execution services for the institutional investor industry, today announced a joint endeavour with SunGard Financial Networks, an operating group of SunGard (NYSE:SDS), to expand global FIX trading and increase distribution channels, through a single point of entry.
The SunGard Transaction Network (STN) is an open, electronic global network that links financial services firms and allows users to automate the full transaction lifecycle to achieve straight-through processing. STN is used by more than 800 buy-side firms, on 27 different order management systems in the U.S, Europe and Asia. Applications connected to STN include Decalog, Front Arena and Advent Software's Moxy(r).
By connecting NeoNet with STN, clients benefit from direct market access to NeoNet's connected global marketplaces through a single FIX connection. Clients can also choose to send orders to be worked on NeoNet's international trading desk. NeoNet's solution provides clients with efficient access to the world's global equity market capitalisation, trading on the NASDAQ, NYSE, Amex, London, Frankfurt, Paris, Amsterdam, Brussels, Milan, Stockholm, Helsinki, Copenhagen and Oslo stock exchanges.
"We are delighted with the opportunity to not only provide NeoNet's clients with access to STN products and services, but also to provide STN's institutional client base with efficient execution services on global exchanges," said Staffan Persson, chief executive officer of NeoNet. "This will further increase the distribution channels of NeoNet's services and adds to our global expansion strategy to facilitate our clients' direct market access and global execution via NeoNet."
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