Neonet to Provide Managed Execution Services to JRS Securities

Neonet, an independent execution services provider, recently announced that it will provide managed execution services to JRS Securities, a Stockholm-based brokerage firm which provides institutions with research and brokerage services.

According to the terms of the agreement, the institutional client base of JRS Securities will be able to execute directly thanks to Neonet services. As a result, JRS will not be required to involve in exchange memberships and make 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.”

 “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.”

In related news, Neonet recently announced that E. Öhman Jor Securities Finland Ltd has entered an Execution Service Provider agreement to support its trading operations. The deal was booked in Q4 2011. The Neonet ESP solution allows Öhman Securities Finland to trade in their own membership on the firm's primary market, and in Neonet's name on all secondary markets where Finnish stocks are traded and at the same time lower their operational cost. Öhman securities clients will benefit from improved execution quality as a result of Smart Order Routing technology, alternative market access, and strict quality control.

Rahul Arora is a TMCnet contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.

Edited by Rich Steeves