Stockholm, 23 May 2006
NeoNet today announced that one of the world’s largest investment banks will use the NeoNet XG (eXchange Gateway) service. NeoNet XG is the product name of NeoNet’s hosted trading system and software services, launched during fall last year.
With NeoNet XG, clients’ trade on exchanges using their own memberships and leverage NeoNet’s high-speed technology, exchange connectivity and infrastructure. The new client will use NeoNet XG for low-latency trading through their own memberships on 8 exchanges.
Many clients find the combination of NeoNet XG and NeoNet’s direct market access (DMA) brokerage service highly valuable; including the flexibility to add modules like front-end private labeling. NeoNet XG provides clients with a cost-effective and comprehensive offering enabling them to execute all their trading with NeoNet, whether they are members of the stock exchange themselves or want exchange access through NeoNet’s agency brokerage and DMA services.
“I am very pleased to announce that one of the world’s top tier investment banks has selected our high-performance NeoNet XG services,” said Simon Nathanson, CEO of NeoNet. “Since the launch of this service we have seen strong interest from a wide spectrum of clients, ranging from the largest investment banks to more niche banks and brokers. NeoNet XG matches the growing demand for
advanced low-latency trading and broad marketplace coverage with a short implementation time of the service.”
With the NeoNet XG services, the company offers investment banks and broker-dealers highperformance trading services on stock exchanges of which clients are members. NeoNet is responsible for operation, hardware, software and infrastructure, but does not act as the client’s broker. Revenue from system and software services is generated from ongoing license fees which, unlike NeoNet’s agency brokerage services, are not directly linked to trading volumes.