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Neonet to offer Turquoise connectivity

22 May 2008  |  1587 views  |  0 Source: Neonet

Neonet, the global provider of neutral, direct market access (DMA) brokerage services and trading systems, today announced that it will offer access to Turquoise, the multi-lateral trading facility established by nine leading investment banks.

Neonet will offer access to Turquoise for its buy- and sell-side clients upon the platform's target launch in September.

Under the Markets in Financial Instruments Directive (MiFID), trading in Europe is undergoing a period of rapid transformation, and Turquoise represents a new generation of trading platforms. By adding Turquoise to its offering of over 30 global marketplaces, Neonet offers its clients the combination of deep global liquidity across the traditional marketplaces with access to the new competitive markets.

Commenting on the announcement, Eli Lederman, Chief Executive of Turquoise said, "Our integration with European trading platforms represents a central tenet of our launch and ongoing operations, post-launch. Through Neonet we gain access to important segments of the trading community, and Neonet users will benefit from the full, differentiated functionality of Turquoise."

"As the global capital markets continue to evolve, you can be confident in Neonet to be at the forefront in trading execution services and trading technology solutions. Offering access to a continually-growing array of marketplaces with both brokerage and technology services is a truly powerful proposition for our clients. As liquidity continues to fragment, our new smart-order routing technology ensures that transactions are made at the best possible price across multiple markets," states Simon Nathanson, CEO and President of Neonet.

This announcement follows Neonet's recent agreement with Turquoise to provide low-latency, real time market data from across the European equity markets through Neonet's XG Market Data (announced 13th March 2008). Turquoise is targeting a full launch in early September with 1,500 stocks across 14 countries.

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