NeoNet today announced access to the International Order Book (IOB), the London Stock Exchange's market for liquid emerging markets securities.
With this addition, NeoNet's clients are offered high-speed direct market access trading in a broad selection of fast-growing economies' securities.
The IOB is one of the leading marketplaces for emerging markets securities, capturing on average USD 11 bn in traded value each month. More than 245 securities are traded on the IOB by means of depositary receipts. Some of the most actively traded depositary receipts include: Lukoil, Gazprom, Unified Energy Systems of Russia, Surgutneftegaz, Norilsk Nickel, Samsung Electronics, Orascom Telecom, OTP Bank and Investcom.
"We have seen growing demand from our clients for trading on the IOB in line with an increased interest in emerging markets," said Simon Nathanson, CEO of NeoNet. "The IOB offers an opportunity for clients to trade liquid fast-growing economies' securities, from for example, the Middle East, Asia and Eastern Europe, including Russia."
The IOB market is based on an electronic order book similar to the London Stock Exchange's SETS. During October 2005, the IOB enjoyed a record turnover of USD 16.98 billion, an increase of 82 percent on the same period last year.