NeoNet offers equity execution services on the New York Stock Exchange, NASDAQ and AMEX, and on the London, Frankfurt, Paris, Amsterdam, Brussels, Milan, Stockholm, Helsinki, Copenhagen, and Oslo stock exchanges. Under the contract, NeoNet will use Radianz's market infrastructure, a global financial extranet called RadianzNet, for Financial Information eXchange (FIX)-enabled networking that will empower clients in the United States and Europe to use its services.
"Using RadianzNet will enable us to efficiently expand our client connectivity alternatives since we will be able to leverage Radianz's existing connectivity to thousands of financial institutions, including those we want to add as customers," said Pia Hofstedt, CIO of NeoNet.
The addition of NeoNet to Radianz's customer base also gives the nearly 10,000 financial sites worldwide that are connected to RadianzNet the ability to execute on the exchanges offered through NeoNet.
"Radianz and NeoNet are bringing two powerful technology standards together for the benefit of their clients in the equity markets - namely IP and FIX. Private IP networks like the one offered by Radianz are increasingly becoming a popular alternative to the Internet, as they not only create an instant community of interest, but also resolve issues around quality of service, security and tracking. In addition, FIX is rapidly becoming the de facto data exchange standard for the equity order flow from pre-trade to pre-settlement, allowing for greater efficiencies through automation," said Michael Haney, senior analyst
with Boston-based research and advisory firm Celent.