Christiania Securities takes the next step and outsources non-core business to Neonet
A flexible cost model and a cutting-edge technical platform made the Norwegian brokerage firm Christiania Securities outsource its execution services to Neonet.
Stockholm, Sweden, November 27, 2012 – Neonet, the independent execution service provider, today announced an execution service agreement with the Norwegian brokerage firm Christiania Securities AS.
Christiania Securities is a leading Norwegian brokerage firm specialized in technical stock analysis. The firm has provided institutions, companies and private investors with research and brokerage services since 1995 on the Oslo Stock Exchange and other Nordic markets. Christiania Securities recently made a strategic decision to outsource its execution services for trading and focus on its core business – technical stock analysis.
“Looking at different alternatives, Neonet’s execution service solution proved to be the best fit for us; it gives us a leading technical platform with extensive market access together with superior execution quality through Neonet’s Smart Order Routing technology,” says Oddbjørn Hollen, CEO at Christiania Securities.
Christiania Securities is a long time member of the Oslo Stock Exchange and NASDAQ OMX. However, the decision to rely on Neonet for execution services eliminates the need for exchange memberships and investments in in-house execution technology. “This set-up, where we only trade in the Neonet membership combined with Neonet’s transparent cost+ model, will significantly reduce our fixed costs,” Oddbjørn Hollen continues.
“By outsourcing the execution services to Neonet, Christiania Securities will be able to focus on its core business in a membership-like environment and meet current market conditions more efficiently,” says Andreas Parback, Sales Manager at Neonet. “This is another example of how our service fits the new needs of brokerage firms to adjust their business model.”
About Christiania Securities AS
Christiania Securities is a well-established stock brokerage firm with almost 18 years of experience from the Nordic stock markets. Founded in 1995, the company’s 20 employees serve institutions, companies and private investors from its headquarters in Oslo. Christiania Securities is specialized in technical stock analysis and is the leading brokerage firm in this area of expertise in Norway.
For further information, visit www.christiania-sec.no
Neonet’s mission is to deliver a truly transparent and neutral execution service to banks and brokers, with an optimized balance of quality and cost. The execution service includes advanced smart order routing, trading algorithms, a comprehensive execution management system and a trading and customer service desk operated by qualified execution specialists. Neonet does not engage in proprietary trading or any other financial activity that could result in a potential conflict of interest. Neonet serves clients in over 20 countries and is owned by Nordic Capital Fund VII.
For further information, visit www.neonet.com.
Joacim Wiklander, CEO, Neonet, Tel. +46 8 454 15 50
Oddbjørn Hollen, CEO, Christiania Securities AS, Tel. +47 23 31 85 20
Louise Fredholm Allansson, Marketing & PR, Neonet, Tel. +46 708 30 36 35