Neonet, the independent execution service provider, today announced an agreement with Prize Capital Markets, an Oslo-based brokerage firm, to deliver managed execution services for trading in primarily Nordic equities.
Prize Capital Markets is a newly established firm that provides institutions with research services that focuses mainly on the Nordic equities markets. When reviewing the need for exchange memberships and investment requirements in their in-house execution management technology, Prize made the strategic decision to outsource all functions outside their core research business, and chose Neonet as their main execution service provider.
"Outsourcing our execution services to Neonet offers substantial advantages over the alternative set-ups we considered, and it gives our institutional clients access to a broad range of markets," says Jørn Kjørsvik, Head of Equities and Partner at Prize Capital Markets, and continues. "With Neonet's Smart Order Router, our clients benefit from superior execution quality."
Neonet's internal and third-party reporting, combined with Neonet's Smart Order Routing technology, allow Prize to get full control over both the cost and execution quality aspects across 40+ markets, including all major MTFs and primary exchanges in Europe and the Americas.
"In the current challenging times for the financial markets, Prize has set up a business model that even established brokerage firms should envy. Prize can focus all internal resources on adding value to the services to their clients, while outsourcing non-core services to Neonet," says Andreas Parback, Sales Manager at Neonet. "We are very pleased to work with Prize and are inspired by their view of the brokerage industry."