Stockholm, 20 September 2004 - NeoNet, the neutral and independent agency broker for professional investors, and Thomson Financial, an operating unit of the Thomson Corporation (TSX: TOC; NYSE: TOC) and leading provider of information and technology solutions to the worldwide financial community, today announced a joint endeavour to offer clients global FIX trading connectivity through a single point of entry over the Thomson AutEx FIX network.
Thomson AutEx is the market leader in the provision of FIX compliant solutions to the global trading community. The service handles over one million trading messages daily, enabling more than 300 global brokers to trade with more than 500 institutions.
By connecting NeoNet with Thomson Financial's AutEx FIX network, clients benefit from direct market access to NeoNet's 16 connected marketplaces through a single FIX connection. Clients can also choose to send orders to be worked on NeoNet's international trading desks. NeoNet offers execution through the company's exchange memberships on: Amsterdam, Brussels, Copenhagen, Frankfurt, Helsinki, London, Lisbon, Milan, Oslo, Paris, Stockholm and Virt-x. Trading is also offered on Amex, Nasdaq, NYSE and Madrid.
"We are pleased to be able to offer clients neutral and efficient equity trading via NeoNet through the Thomson AutEx network," said Simon Nathanson, CEO of NeoNet. "By combining Thomson AutEx's established network with NeoNet's cross-border equity trading service, clients will be able to increase efficiency and lower transaction costs. It also further expands the distribution alternatives and makes it even easier for clients to start trading through us."
New Thomson AutEx tools enable tighter integration with clients' systems enabling easier connectivity and faster trade processing and negotiation. The improved flexibility of the latest platform offers the Thomson AutEx community a market leading and intelligent environment in which FIX compliant messages are broadcast and received.
"Our customers need straight-through processing coupled with lower connectivity cost. This needs to be initiated from within their chosen Order Management Systems which our Thomson AutEx third generation platform delivers with world wide market acceptance", said Tony Booth, Director of Connectivity, Thomson Financial. "We are pleased that NeoNet has joined the Thomson AutEx network and their presence further improves the value and options for executing flow for our customers."
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