STOCKHOLM, Sweden, Nov. 18, 2002 (PRIMEZONE) -- NeoNet (Stockholm:NEO), an international agency broker that provides electronic equity execution services for institutional investors and broker-dealers, today announced that it will provide Macgregor, a global provider of buy-side trade order management systems (OMS) and FIX network services, with access to NeoNet's global equity execution network. Macgregor has 80 of the world's largest institutions as clients.
NeoNet will connect to Macgregor's OMS, the Macgregor Financial Trading Platform (MFTP) and to the Macgregor FIX Network (MFN), offering Macgregor's clients access to approximately 85 percent of Europe's equity market capitalization and to Nasdaq. Through a single point of entry, NeoNet offers trading access to global markets, including the Nasdaq, London, Frankfurt, Paris, Amsterdam, Brussels, Milan, Stockholm, Helsinki, Copenhagen and Oslo stock exchanges. NeoNet also plans to add connections to the New York Stock Exchange and Virt-x.
"We are excited to offer our clients access to NeoNet which will serve a unique role among the other 140 liquidity destinations on our network," said Steven Levy, President and CEO at Macgregor. "For the first time, this will provide our clients with direct access to European exchanges. Cross border trading has become an important area of growth for many of our clients and NeoNet's platform offers them the unbiased membership access that they desire as they execute trades in global markets."
"With the continued volatility in the U.S. markets, investors are diversifying more by investing in European securities," said Torvald Bohlin, CEO of NeoNet. "NeoNet's platform enables institutional investors to execute their global trading strategies efficiently and with the lowest market impact. Integrating NeoNet's member exchange connections coupled with Macgregor's Trading Platform and FIX Network enhances the powerful new trading tools and access to new pools of liquidity currently being offered to their clients."
About Macgregor
Founded in 1991, Macgregor has set the standard in trade order management systems for the global buy-side community. Macgregor's unique architectural approach to developing workflow solutions is embodied in its Extended Order Management System, the Macgregor Financial Trading Platform (MFTP) which combines powerful decision support, compliance, trading and post-trade tools with a fully integrated and supported FIX network (MFN). This system helps move information through the entire investment process with increased speed, accuracy, and efficiency, resulting in better investment performance. With over 220 employees located in offices in Boston, New York, San Francisco, London and Madrid, Macgregor helps more than 80 of the largest institutions in the world manage over $5.5T in global assets.
For further information, please contact: Company contacts: Torvald Bohlin Magnus Karlsson CEO of NeoNet Communications, NeoNet Tel. +46 8 454 15 39 +46 8 454 15 46 torvald.bohlin@neonet.se magnus.karlsson@neonet.se U.K. PR-agency contact: Stefanie Davidson/Tom Coombes Cognito +44 20 7936 9058 stefanie.davidson@cognito-europe.com
Through NeoNet, clients have electronic direct trading access to one third of the world's equity market capitalization. As an agency broker, NeoNet provides institutional investors and broker-dealers with an exchange network for electronic trading on the world's leading stock exchanges. Clients can also trade over NeoNet's international trading desk. Focused on providing a single point of access to multiple equity markets worldwide, NeoNet has 78 employees with offices in Stockholm, New York and London, is listed on the Stockholm Stock Exchange (ticker NEO), and has clients in twelve countries including the U.S. and U.K.
NeoNet AB (publ), P.O. Box 7545, SE-103 93 Stockholm, Sweden, Tel: +46 8 454 15 00, Fax: +46 8 10 40 84, www.neonetsecurities.com
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