Neonet expands offering with Nordic@Mid Dark Pool

Transparency in price determination helps Neonet clients to reduce trading costs on Nordic cash equity markets.

Stockholm, Sweden, November 16, 2010 – Neonet, the global agency broker, today announced the addition of Nordic@Mid – a new non-displayed, “dark pool” trading facility in Nordic Cash Equity Trading – to its service offering. Nordic@Mid is a facility for matching non-displayed orders at the midpoint of the central order book's best bid and offer. Effective immediately, it covers NASDAQ OMX Nordic cash equity markets in Stockholm, Helsinki, Copenhagen and Iceland. This new functionality will also be introduced in Norwegian shares traded in NASDAQ OMX Stockholm in Q1, 2011. Nordic@Mid can be traded using the Neonet Dark algorithm.

“Nordic@Mid is a welcome addition to our offering, as it provides innovative means of execution that generates valuable opportunities to Neonet clients,” said Fredrik Lindqvist, President, Neonet Securities. “Aside from the transparency benefits with midpoint order matching, Nordic@Mid also allows for efficient, automatic execution of large orders and reduced costs for counterparty search.” 

Nordic@Mid ensures transparency concerning price determination, enabling trading members to minimize their trading costs. By always matching orders at midpoint of prevailing reference price, there is no market or price impact. Executed Nordic@Mid trades are published real time via the public NASDAQ OMX Nordic data feed.

About Neonet
Neonet is a global agency broker that offers professional market participants independent, high-speed brokerage services based on advanced trading software solutions. Neonet’s state-of-the art execution technology provides connectivity to markets across the EMEA, Americas and Asia-Pacific. Neonet’s services include a comprehensive execution management system, advanced trading algorithms, smart order routing, market data services and a 24 hour trading desk for manual execution and support. Neonet’s clients are found in over 25 countries and include banks, brokerage firms, institutional investors, hedge funds and trading venues. Neonet Securities is an Orc Software company. Orc Software is publicly traded on NASDAQ OMX Stockholm (SSE:ORC).

For further information, please visit www.neonet.com 

Media contacts:
Fredrik Lindqvist, President Neonet Securities, Tel. +46 8 454 15 00
Christine Blinke, VP Marketing and Investor Relations, Orc Software, Tel. + 46 739 01 02 01 

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About Us

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 owned by Nordic Capital Fund VII. For more information, please visit: www.neonet.com

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