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 Orc Group
Orc Group is a leading provider of technology and services for the global financial industry. Orc delivers trading and market access solutions that are used by proprietary trading and market making firms, investment banks, hedge funds and brokerage houses.
The Orc Group serves customers through three business units, each with distinctive offerings:
- Orc develops and provides the tools needed to run profitable trading and brokerage businesses.
- Neonet offers professional market participants flexible, independent and transparent execution services.
- CameronTec is the financial industry leader in FIX infrastructure and connectivity solutions.
With market presence in all major global financial centers, Orc provides sales and support services from its offices across the EMEA, Americas and Asia-Pacific regions.
Orc Group is publicly traded on NASDAQ OMX Stockholm (SSE: ORC).
For additional information, visit www.orc-group.com
Media contacts:
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
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