Neonet, a provider of execution services, will supply trading tools to UB Securities as part of the Helsinki-based brokerage's efforts to improve execution quality in a low volume environment.
UB Securities will use Neonet's smart order router (SOR) and market access tools to access major multilateral trading facilities and primary markets in Europe and the Americas using a combination of Neonet's infrastructure and its own memberships.
Petter Hedman, sales manager at Neonet, said his firm’s technology would improve UB Securities execution quality amid lower European trading volumes.
“UB Securities choosing Neonet to help adjust to fluctuating volumes is another example of how our offering fits the new needs of sell-side firms to adjust their business model," said Hedman. “By outsourcing their execution services to Neonet with access to smart order routing technology, UB Securities will be able to give their clients an optimised process at a low cost.”
The week Neonet also announced the addition of Greek and Turkish markets to its list of European equities venues.
The Athens Stock Exchange and Istanbul Stock Exchange are now accessible through Neonet’s execution services offerings.
“Greek equities will complement Neonet’s focus on offering trading access to all markets in the eurozone, while the Turkish addition addresses investors’ recognition that the Turkish economy has continued to grow despite global macro volatility”, said Massimiliano Raposio, vice president of sales at Neonet. “Furthermore the Istanbul Stock Exchange has become increasingly important, having upgraded its connectivity and market operations.”