NeoNet, the global DMA agency broker and trading technology provider, today announced its connection to Chi-X, Europe's first alternative equities trading system that directly competes with traditional exchanges. This important development adds a new trading venue to NeoNet's existing offering of 25 exchanges globally, and represents NeoNet's first connection to a multi-lateral trading facility (MTF) in Europe.
Chi-X was established in response to market participants' demands for a competitive alternative to trading on traditional exchanges. By connecting to Chi-X, NeoNet now offers direct access to the platform's growing library of pan-European blue chips.
"Connecting to Chi-X is a natural evolution of NeoNet's DMA offering and in line with our strategy to offer a complete and leading trading solution post-MiFID," comments Simon Nathanson, CEO and president of NeoNet. "NeoNet was built from the ground up to offer its clients'
low-latency access to a growing number of marketplaces, and Chi-X's high-speed modern platform complements our offering perfectly."
Under the Markets in Financial Instruments Directive (MiFID), trading in Europe is undergoing a rapid transformation. As new trading platforms emerge to challenge the exchanges, the ability to aggregate liquidity is becoming ever more important for investors. The additional requirement to achieve 'best execution' adds another challenge for market participants. By providing access to the most competitive marketplaces around the globe, NeoNet enables its clients to meet their best execution requirements via one provider.
"By enhancing our offering with access to Chi-X, we demonstrate the natural power and expandability of our DMA offering to adapt to new market environments. We will continue to evolve the functionality of our platform in line with client demands," concludes Nathanson.
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