Neonet adds to MTF connectivity
Published on August 29, 2008.
Neonet, the Swedish agency broker and DMA provider, will offer its buy- and sell-side clients access to pan-European MTF BATS Europe upon its launch in September.
BATS Europe will join other pan-European venues Chi-X and Turquoise on the list of 30 global marketplaces offered by Neonet. There are currently no planned connections to Nasdaq OMX Europe and Equiduct Trading, the pan-European MTFs due to launch later this year.
BATS Trading was first launched in the US equity market in January 2006 and is now expanding into Europe. It has gained a 10% matched share of the US market and has recently received SEC approval to become a national securities exchange from October.
"We are pleased to further our relationship with Neonet and look forward to the significant order flow this agreement is likely to bring,” said Mark Hemsley, chief executive of BATS' European Markets division. “BATS
Europe aims to follow a similar roadmap to its US counterpart and we are excited about the opportunity to make markets better here."
