Neonet
The Neonet smart order router (SOR) typically handles multiple percentages of European equity trading volume on a daily basis. It is configurable and customisable either by clients or for clients depending on their set up. |
Key features
Neonet SOR is accessible from numerous order and
execution management systems, networks and Neonet Trader. The technology design
allows Neonet to add capacity. The SOR fail-safes include multiple data
centres, clustering, dedicated software, hardware and network support teams. It
also offers order/limit validation, total exposure monitoring, venue
timestamping, low-latency and monitoring of queues and stale orders.
Access
Neonet constantly reviews all venues and adds new
venues. It supports limit, market, iceberg, peg, hidden, dark, stop, immediate
or cancel, step, and trigger order types. The Neonet SOR has different modes
for operating in dark and lit venues, although in both cases it is designed to
minimise footprint and maximise liquidity sourcing.
Customisation
Clients can get information on post-trade
transaction cost analysis, reviewing spread capture, hit-rates, intra-day
updates and regular performance reviews. Neonet also partners with
LiquidMetrix, which provides an independent and third-party review of
performance. Neonet offers clients reports to optimise execution performance.
Future plans
Neonet expects to add new venues and greater
configurability of the platform in the next 12 to 18 months. It is working on
incorporating quantitative methodology with LiquidMetrix.