Neonet enters execution services partnership with JRS Securities
Newly established Stockholm brokerage firm relies on Neonet for execution services to serve its institutional client base.
Stockholm, Sweden, February 2, 2012 – Neonet, the independent execution services provider, today announced an agreement with JRS Securities, a Stockholm-based brokerage firm, to deliver managed execution services for trading in Nordic equities. The order was booked in Q1, 2012.
JRS Securities is a newly established firm which provides institutions with research and brokerage services, with main focus on the Swedish equities markets. JRS has made a strategic decision to outsource all functions outside its core business. Consistent with this, JRS will rely on Neonet as one of their main execution service providers, which eliminates the need for exchange memberships and investments in in-house execution management technology.
“We have taken the approach to minimize fixed costs and instead build strong relationships with premier solutions providers in several categories,” said Stefan Liljestam, CEO, JRS Securities. “For trade execution, which is absolutely critical to our business, we have selected Neonet as a business partner since they are independent from our competition, with a proven capability for delivering market-leading execution quality and a commitment to transparency.”
Targeting major institutional investors, JRS has elected not to engage in proprietary trading or corporate finance services. The service offered by Neonet allows JRS’ clients to execute directly, as if they were Neonet customers, while the commercial relationships are maintained between JRS and its clients.
“In challenging times for the financial market, JRS has set up an operation that we believe established brokerage firms will envy. JRS directs all internal resources to adding core value to their clients whilst outsourcing non-mission critical services to service providers like Neonet,” said Carl Johan Wallin, Global Head of Sales, Neonet Securities. “We are very happy to work together with JRS and inspired by their refreshing view of the brokerage industry.”
About JRS Securities
JRS Securities is a newly established independent firm in the Swedish financial market. The firm is focused on being a qualified partner and advisor to primarily Swedish and Nordic institutions, with a mandate to manage Swedish stock portfolios. It received a permit from the Swedish Financial Supervisory Authority (FI) in December 2011 and operations start in February 2012. JRS Securities currently has 17 employees, of which nine are analysts and 6 are stock brokers. The staff has a combined industry experience of 300+ years. The company is owned by employees (70%), the JRS Group AB (20%) and Traction Invest AB (10%).
For further information, please visit www.jrssec.se.
Neonet offers professional market participants flexible, independent and transparent execution services based on advanced trading software solutions. Neonet’s services include a comprehensive execution management system, advanced trading algorithms, smart order routing, market data services and a trading 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. Clients include banks, brokerage firms, institutional investors, hedge funds and asset managers. Neonet Securities is an Orc Group company. Orc Group is publicly traded on Nasdaq OMX Stockholm (SSE:ORC).
For further information, visit www.neonet.com.
Neonet: Joacim Wiklander, CEO, +46 (0) 739 01 02 40
JRS Securities: Stefan Liljestam, CEO, Tel. +46 (0) 8 5450 7201
Orc Group: Christine Blinke, VP Marketing and Investor relations, Tel. +46 (0) 739 01 02 01