Handelsbanken Capital Markets, a Nordic investment bank, is to provide agency broker NeoNet with a full-service electronic direct market access (DMA) trading solution. NeoNet will deliver NeoNet XG, a hosted system and software service for electronic securities trading. With the NeoNet XG service, the agency broker takes on responsibility for software, hardware, infrastructure, operation and surveillance. In addition to providing software services, NeoNet will handle the administration of back-office services forming a full-service solution for DMA trading. The platform fulfills regulatory requirements for Europe and the US.
“Offering our institutional clients high-performance electronic DMA to a large number of exchanges will be a key addition to our strong portfolio of investment bank services. Of most importance to us is finding the best solution for our clients,” says Mikael Ericson, head of Handelsbanken Capital Markets. It is NeoNet’s ability to innovate that attracted it to Handelsbanken, according to Ericson. “We are seeing excellent potential and a growing interest for the NeoNet XG services from large investment banks and more niche banks and brokers alike,” says Simon Nathanson, CEO, NeoNet.