KCG Neonet

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Neonet
Neonet Logo.PNG
Founded 1996
Headquarters Sweden
Key People Joacim Wiklander, CEO
Products Brokerage & technology provider
Website www.neonet.com

Neonet is a global agency brokerage firm and technology provider. It offers professional market participants neutral, high speed brokerage services and trading software solutions. [1]

From 2010 to 2012, Neonet was majority-owned by Nordic Capital. In February 2013, a majority interest was sold to KAS Bank and Hay Tor Capital, a private equity firm founded in 2011 by former Goldman Sachs partner John Ashdown.[2]

In July 2016, the private equity consortium announced the sale of Neonet to KCG Holdings, the agency execution platform and proprietary trading firm created in 2013 with the merger of Knight Capital and GETCO.[3] After the deal closed in September 2016, Neonet became a wholly owned subsidiary of KGC, and now operates out of Stockholm under the name KCG Neonet.[4]

History

Neonet was founded in 1996 by a group of experienced sales traders and software engineers. In 2010, Neonet merged with Orc Software, but was later spun out of ORC to it parent, private equity firm Nordic Capital, when the combination of Orc's derivatives trading speciality and Neonet's equities trading software proved unsuccessful. [5]

In 2011, Orc's chief strategy officer, Joacim Wiklander, was appointed CEO of Neonet, replacing exiting CEO Fredrik Lindqvist.[6]

In November 2012, sixty percent of the company was sold to Hay Tor Capital, and in 2013, Wiklander was replaced as CEO by Tim Wildenberg, head of electronic trading at Citi.


Products and Services

Neonet was one of the first companies to offer direct market access (DMA) on its electronic trading platform. Neonet is an independent agency broker and operates a 24/7 trading desk for global clients. The company also offers three market access solutions, which can be combined according to client preference:

  • Neonet Trader. Functionality includes high-performance spread trading and algorithmic trading using fourth-generation Smart Order Routing.
  • High-touch trading desk, serviced by Neonet’s execution specialists.
  • Proprietary or third-party Execution Management Systems and Order Management Systems. Any system compliant with industry-standard FIX connectivity may be integrated."

Key People

References

  1. Neonet Home. Neonet.
  2. Wildenberg to leave Citi for Neonet. The Financial Times.
  3. KCG History. KCG.
  4. KCG Completes Acquisition of Neonet. PR Newswire.
  5. Orc/Neonet merger enables joint equity and derivatives offering. The Trade News.
  6. Joacim Wiklander new CEO of Neonet Securities. ORC.