US institutional brokerage and investment bank Jeffries & Company is to provide clients with direct access to European exchanges through the NeoNet Electronic Execution Network.
The FIX-enabled NeoNet equity trading technology will be connected at Jefferies' institutional trading site in New York. Insitutional clients will access the NeoNet gateway via a link at Jeffries' managed data network.
"Europe's equity markets are fragmented, with many different trading platforms, clearing and settlement venues, membership administration, regulations and ownership," says Mike Alex, senior vice president of e-business at Jefferies & Company. "Jefferies' direct electronic connection to NeoNet allows us to offer our 1700 institutional clients a single point of access to important equity markets in Europe."
NeoNet's Electronic Execution Network links to the London, Stockholm, Helsinki, Frankfurt, and Copenhagen stock exchanges. NeoNet also has plans to expand connectivity to EuroNext in the third quarter 2001.