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Neonet dips toe into dark pools

Author: Margie Lindsay

Source: Hedge Funds Review | 14 Jul 2009

Categories: Operations

Topics: Irish Stock Exchange, Dark pools, Equity, BNP Paribas, HSBC, JP Morgan

Neonet, a global provider of execution services and trading technology, has started to offer access to dark liquidity. The most recent addition is SmartPool, the multi-lateral trading facility set up by NYSE Euronext in partnership with JP Morgan, HSBC and BNP Paribas.

With the addition of SmartPool, Neonet offers access to dark liquidity on six venues including Chi-Delta, Neuro Dark, Turquoise's Dark Pool, Xetra Mid Point and the Irish Stock Exchange. Additional venues are planned to be added.

SmartPool is a London-based dark pool, regulated by the FSA. It offers trading in approximately 1,000 equities across 15 European markets.

Neonet's buy-side clients gain access to SmartPool via Neonet's suite of algorithms, Execution Specialists or its direct market access systems. Neonet integrates trading on Dark Pools into the company's Smart Order Routing and algorithmic trading strategies.

"We offer access to over 35 market places and to dark liquidity on six venues," said Simon Nathanson, CEO and president of Neonet.

A dark pool is an electronic equity system that gives institutional investors the possibility to trade large number of shares in liquid or illiquid stocks without revealing themselves to the open market.

Neonet is offers professional market participants neutral, high speed brokerage services and advanced trading software solutions.

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