STOCKHOLM, Sweden, May 13, 2003 (PRIMEZONE) -- The London Stock Exchange and NeoNet announced today that they have entered an agreement to market jointly NeoNet's electronic execution services to Nordic brokers and investors. The NeoNet service enables efficient, direct market access to stock trading on the London Stock Exchange and other leading exchanges.
The Exchange's recently opened Nordic Office has introduced the new initiative to facilitate trading access for Nordic investors to the London markets. This is part of a continuous programme to make it as easy for investors in the Nordic region to trade shares on the London Stock Exchange as on the Nordic exchanges.
NeoNet has been a member of the Exchange since 2000 and provides direct trading access to London's markets for non-members in the Nordic region.
Marcus Hamberg, the Exchange's manager for the Nordic region, said: "By promoting connectivity solutions such as NeoNet, we aim to make it even easier for Nordic investors to trade Nordic and other shares in London. This is also a step in our ambition for Nordic companies to gain the global benefits that a London listing offers, whilst still being accessible to their local investors."
Tony Svensson, NeoNet's Head of European Sales, said: "The London Stock Exchange offers great opportunities for Nordic investors and companies. We are delighted to be working with the Exchange and facilitating their efforts in the Nordic market through our existing execution service andinfrastructure."
For further information, please contact:
Company contacts:
Ian Campbell Magnus Karlsson
Press Office, London Stock Exchange Communications, NeoNet
+44 20 7797 1222 Tel. +46 8 454 15 46
icampbell@londonstockexchange.com magnus.karlsson@neonet.biz
PR contacts
NeoNet's U.S. PR-agency contact
NeoNet's U.K. PR-agency contact: Damon Leavell, Spring O'Brien
Stefanie Davidson/Tom Coombes, Cognito +1 973 267 8800
+44 20 7936 9058 damonl@spring-obrien.com
stefanie.davidson@cognito-europe.com
Notes to Editors
The Exchange opened its Nordic office in Stockholm on 1 October 2002 after market research identified a demand from Nordic companies. Its purpose is to attract Nordic companies to London's market. This is a separate business to the EDX London initiative announced with OM AB earlier (see www.londonstockexchange.com/edx).
There are currently 15 companies from the Nordic region listed and traded on the London Stock Exchange (see: www.londonstockexchange.com/nordic).
London offers Nordic companies access to the largest pool of international equity capital in the world, provides a high international profile and a stable regulatory environment that has not been saddled with the same investor confidence problems as some other markets in the world.
In 2002 there were a total of 97 IPOs on the London Stock Exchange's markets. 60 of those were on AIM, the Exchange's international market for smaller growing companies (For more about AIM, see: www.londonstockexchange.com/aim).
In 2002, AIM accounted for 45% of all IPOs in western Europe.
The Exchange hopes to promote similar services from other technology providers in the Nordic region in the future.
The Exchange recently announced proposals that would allow companies listed on Stockholmsborsen 'fast-track' access to AIM. The proposals would make it more cost-effective, quicker and easier for listed in Sweden to access London's markets.
Since its 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 electronic access to multiple equity marketplaces worldwide. Clients have direct market access to one third of the world's equity market capitalization. Trading is also available over 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 twelve countries globally. See also www.neonet.biz
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