Our new offering brings together Europe’s traditional exchanges with the new alternative marketplaces by:
• Bringing Europe’s liquidity into one transparent display
• Directing orders to the best price, regardless of the underlying marketplaces
• Enabling trading in the clients´ or Neonet’s memberships or in combinations of both
Neonet’s Consolidated European Order Book Offering now blends the liquidity of the traditional exchanges with Europe’s new alternative markets. By bringing relevant high speed market data into one consolidated order book, it creates a transparent view over European trading. As an integrated functionality, Neonet´s smart order routing technology directs the orders to the best venues for execution, whether alternative marketplaces, traditional exchanges, or combinations of both. It uses the client´s memberships or Neonet’s over 30 international memberships, or combinations of both.
Neonet gives a complete overview over European trading and seamless execution at the best marketplace for every trade. Initially, the new competition between marketplaces brought new challenges to the market, such as the fragmentation of liquidity, the risk of increasing spreads and declining transparency on share prices among multiple trading venues. Neonet’s Consolidated Order Book Offering eliminates these challenges, and through improved transparency and aggregated liquidity, it will actually encourage further competition across Europe’s marketplaces.
Neonet’s trading capabilities can be accessed via Neonet’s trading application, the Neonet Trader or third party platforms (using FIX). In addition, clients can gain access to the functionality via Neonet’s independent software offering Neonet XG through a license arrangement.
In order to present the extensive data in the best possible way, there are several settings to tailor the screen according to each trader’s preference. The system and infrastructure is modularized and decentralized in order to handle large volumes without compromising speed and latency.
The new functionality has been developed based on experience with multiple trading venues in the US and trading on the European alternative market Chi-X. Neonet’s Consolidated European Order Book Offering is unveiled ahead of the launch of additional alternative marketplaces across Europe, such as Turquoise, NASDAQ OMX Europe, BATS Europe and Burgundy.