Neonet, the independent execution service provider, today announced an execution service agreement with the Norwegian brokerage firm Christiania Securities AS.
Christiania Securities is a leading Norwegian brokerage firm specialized in technical stock analysis. The firm has provided institutions, companies and private investors with research and brokerage services since 1995 on the Oslo Stock Exchange and other Nordic markets. Christiania Securities recently made a strategic decision to outsource its execution services for trading and focus on its core business - technical stock analysis.
"Looking at different alternatives, Neonet's execution service solution proved to be the best fit for us; it gives us a leading technical platform with extensive market access together with superior execution quality through Neonet's Smart Order Routing technology," says Oddbjørn Hollen, CEO at Christiania Securities.
Christiania Securities is a long time member of the Oslo Stock Exchange and NASDAQ OMX. However, the decision to rely on Neonet for execution services eliminates the need for exchange memberships and investments in in-house execution technology. "This set-up, where we only trade in the Neonet membership combined with Neonet's transparent cost+ model, will significantly reduce our fixed costs," Oddbjørn Hollen continues.
"By outsourcing the execution services to Neonet, Christiania Securities will be able to focus on its core business in a membership-like environment and meet current market conditions more efficiently," says Andreas Parback, Sales Manager at Neonet. "This is another example of how our service fits the new needs of brokerage firms to adjust their business model."