STOCKHOLM, Sweden, Nov. 17, 2003 (PRIMEZONE) -- NeoNet, an international agency brokerage providing efficient electronic equity execution services for the institutional investor industry, today announced a joint endeavor with SunGard Financial Networks, an operating group of SunGard (NYSE:SDS), to expand global FIX trading and increase distribution channels, through a single point of entry.
The SunGard Transaction Network (STN) is an open, electronic global network that links financial services firms and allows users to automate the full transaction lifecycle to achieve straight-through processing. STN is used by more than 800 buy-side firms, on 27 different order management systems in the U.S, Europe and Asia. Applications connected to STN include Decalog, Front Arena and Advent Software's Moxy(R).
By connecting NeoNet with STN, clients benefit from direct market access to NeoNet's connected global marketplaces through a single FIX connection. Clients can also choose to send orders to be worked on NeoNet's international trading desk. NeoNet's solution provides clients with efficient access to the world's global equity market capitalization, trading on the NASDAQ, NYSE, Amex, London, Frankfurt, Paris, Amsterdam, Brussels, Milan, Stockholm, Helsinki, Copenhagen and Oslo stock exchanges.
"We are delighted with the opportunity to not only provide NeoNet's clients with access to STN products and services, but also to provide STN's institutional client base with efficient execution services on global exchanges," said Staffan Persson, chief executive officer of NeoNet. "This will further increase the distribution channels of NeoNet's services and adds to our global expansion strategy to facilitate our clients' direct market access and global execution via NeoNet."
"As markets, industries and institutions move toward global trading, electronic access to the world's markets is increasingly important to our customers," said Paul Schneider, group chief executive officer of SunGard Financial Networks. "We welcome NeoNet as a broker on the STN network as yet another venue to support our growth objectives in Europe and the U.S. Our clients will enjoy and appreciate NeoNet's flexibility in either directing orders to a staffed international trading desk, or choosing to execute directly in the broad range of marketplaces offered. STN is dedicated to offering our clients expanded access to liquidity sources and we can achieve this with NeoNet."
About SunGard Financial Networks
SunGard Financial Networks provides automated order routing for a variety of security types, including U.S. and foreign equities, fixed income, mutual funds, and commercial paper with the convenience of an integrated service provider. Straight-through processing is achieved by linking disparate systems across different institutions throughout the financial services value chain, to form a virtual network which is branded as the SunGard Transaction Network (STN). STN allows trades to be electronically executed, affirmed and allocated to client accounts with minimal manual involvement and intervention.
The brokerage products and services of STN are provided by and offered via SunGard Institutional Brokerage Inc. (Member NASD/SIPC.)
About SunGard
SunGard is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenues of more than $2 billion. Visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo, and BancWare are trademarks or registered trademarks of SunGard Data Systems Inc. in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
For further information, please contact: Company contacts:
Magnus Karlsson Karen Genicola Communications, NeoNet SunGard +46 8 454 15 46 +1 212 809 3078 magnus.karlsson@neonet.biz karen.genicola@sungard.com NeoNet U.S. PR contact: NeoNet's U.K. PR-agency contact: Gerry Wisz, Spring O'Brien Stefanie Davidson, Cognito +1 973.267.8800 +44 20 7936 9058 gerryw@spring-obrien.com stefanie.davidson@cognitomedia.com
Since inception in 1996 NeoNet has focused on efficient and neutral agency brokerage. NeoNet provides the institutional investor industry with execution services offering a single point of access to leading equity marketplaces worldwide. Clients can execute orders using electronic direct market access or through NeoNet's international trading desk. NeoNet has offices in Stockholm, New York and London, is listed on the Stockholm Stock Exchange (ticker NEO), and has clients in 16 countries globally.
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