NeoNet Enhances Trading Platform Functionality

NeoNet, the neutral and independent agency broker for professional investors, today announced enhancements to its high-performance NeoNet Trader platform. In response to client demand for advanced Direct Market Access (DMA) trading functionality, the latest enhancements extend staging, slicing, market data, real-time desk reporting and additional order types.

NeoNet launched a new high-performance trading platform in mid 2004 and this is the first upgrade of client-driven functionality on the new platform.

The enhancement includes the following functionality:
• Staging functionality increases the execution flexibility. This makes it possible for clients to upload orders from their order management system to NeoNet’s front-end application. With the additional functionality, clients have three order routing possibilities for each order: 1) send the order directly to the marketplace using DMA, 2) stage the order in the NeoNet Trader front-end application and work the order using DMA, or 3) send the order to NeoNet’s trading desk as a working order.
• Slicing functionality makes staging more efficient. When clients have staged the order in the NeoNet Trader front-end, it can be divided into slices to optimize the execution taken into account the current liquidity of the security.
• High-speed market data can be offered to all clients. The NeoNet Trader front-end is well known for its high-speed market data. NeoNet will also offer clients using other trading applications an add-on service for fast market data for most of the connected markets.
• Real-time reporting of desk orders improves transparency. If an order is sent to NeoNet’s trading desk, clients can in real-time follow every step of the execution on their screen. The clients’ order management system is also updated in real-time with execution confirmations.
• New order types: NeoNet currently offers a multitude of order types complemented with multi-day orders in all marketplaces supporting this and pegged orders for the US marketplaces.

"In response to client demand, I am pleased to announce the first phase of additional trading functionality on our new platform," said Patrik Westerberg, CIO of NeoNet. "For 2005 we will add an array of additional functionality to continuously extend the clients’ trading services with NeoNet. Future developments will focus on areas such as electronic program trading, algorithmic trading and advanced order types."

As a pure agency broker, NeoNet’s focus is on providing professional investors with electronic direct market access complemented by value adding execution services via its sales traders in New York and Stockholm. NeoNet offer clients integrated and transparent trading access on the following 16 leading exchanges: American Stock Exchange, Amsterdam, Brussels, Copenhagen, Frankfurt, Helsinki, Lisbon, London, Madrid, Milan, Nasdaq, NYSE, Oslo, Paris, Stockholm and Virt-x.

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