NeoNet, a DMA agency broker and trading technology provider, announced on Monday that it is connected to Instinet’s Chi-X, an alternative equities trading system that directly competes with traditional exchanges in Europe. By connecting to Chi-X, NeoNet now offers direct access to the platform's growing library of pan-European blue chips.
"Connecting to Chi-X is a natural evolution of NeoNet's DMA offering and in line with our strategy to offer a complete and leading trading solution post-MiFID," comments Simon Nathanson, CEO and president, NeoNet. "NeoNet was built from the ground up to offer its clients low-latency access to a growing number of marketplaces, and Chi-X's high-speed modern platform complements our offering," he adds.
Under MiFID, the need to aggregate liquidity and demonstrate compliance with a 'best execution' policy is becoming ever more urgent for investors. By providing access to the most competitive marketplaces around the globe, NeoNet says it enables its clients to meet their best execution requirements via one provider.
"By enhancing our offering with access to Chi-X, we demonstrate the natural power and expandability of our DMA offering to adapt to new market environments. We will continue to evolve the functionality of our platform in line with client demands," comments Nathanson.
Chi-X was established in response to market participants' demands for a competitive alternative to trading on traditional exchanges.