STOCKHOLM, Sweden, August 12, 2002 (PRIMEZONE) -- NeoNet, a leading provider of real-time equity trading services for institutional investors and broker-dealers, today announced that it launched electronic trading access to the Milan Stock Exchange via NeoNet's global stock exchange network.
"The introduction of electronic access to Milan strengthens our integrated trading offering for our clients," said Torvald Bohlin CEO of NeoNet. "We offer our clients a powerful way to execute their trading strategies in European and - with the addition of NASDAQ in June - U.S. equities markets. The Milan Stock Exchange is one more example of our commitment to offering 80 percent of the world's market capitalization over one platform by the end of 2003."
Clients can access one third of the world's equity market capitalization in NeoNets global exchange network, enabling clients to reduce the cost of execution and market impact by reaching several major liquidity sources and consolidating European and U.S. trading strategies.
This eliminates the need for several different systems and brokers for trading at different exchanges. In addition to Milan, NeoNet also offers electronic trading access to the NASDAQ, London, Frankfurt, Paris, Amsterdam, Brussels, Stockholm, Helsinki, Copenhagen and Oslo stock exchange. NeoNet also plans to connect to the Virt-x Stock Exchange and the New York Stock Exchange by 2003.
NeoNet's global stock exchange network provides secure, real-time access to equity liquidity on leading stock exchanges. NeoNet avoids any conflict of interest with clients' trading by acting only as an agency brokerage.
About the Milan Stock Exchange (Borsa Italiana) Borsa Italiana is the company responsible for organizing and managing the Italian stock exchange. Borsa Italiana was created in 1997 by the privatization of the stock exchange and has been operational since January 2, 1998.
The exchange is the fourth largest exchange in Europe. Borsa Italiana trades stocks of about 300 companies and executes over Euro 2.5 billion each day. Examples of listed companies are Telecom Italia, Eni, Benetton, Olivetti, Pirelli and Fiat. Read more on www.borsaitaliana.it
For further information, please contact: Company contacts: Torvald Bohlin Magnus Karlsson CEO of NeoNet Communications, NeoNet Tel. +46 8 454 15 39 +46 8 454 15 46 torvald.bohlin@neonet.se magnus.karlsson@neonet.se U.S. PR-agency contact: Damon Leavell Spring O'Brien +1 973 267 8800 damonl@spring-obrien.com
NeoNet provides institutional investors and broker-dealers with an exchange network for electronic trading on the world's leading stock exchanges. The NeoNet system gives clients an efficient tool for real- time equity execution on the connected stock exchanges. Through NeoNet, clients experience trading access to one third of the world's equity market capitalization. Focused on providing a single point of access to multiple equity markets worldwide, NeoNet has 78 employees with offices in Stockholm and New York, is listed on the Stockholm Stock Exchange (ticker NEO), and has clients in eleven countries including the U.S. and U.K.
NeoNet AB (publ), P.O. Box 7545, SE-103 93 Stockholm, Sweden
Tel: +46 8 454 15 00, Fax: +46 8 10 40 84
www.neonetsecurities.com
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