KCG Acquires Neonet Securities, Enhancing its European Presence
- The deal expands to KCG's European presence via increased execution services and capabilities.
KCG Holdings, Inc. (NYSE: KCG) has moved to acquire Neonet Securities AB, a Stockholm-based independent agency broker and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term specialist, in a move to help broaden its European focus, according to a company statement.
Neonet is a provider of advanced algorithmic trading, smart order routing, and sales trading primarily across the European equities space. The acquisition by KCG will help enable clients from the group and Neonet to support greater access to a more complete composite of international execution services and capabilities. In particular, this will emphasize KCG’s latitude on the European continent, with a focus on equities and execution services to banks, brokers, and other financial institutions.
The transaction itself is pending requisite regulatory conditions, though the terms of the deal were not presently disclosed. The acquisition also needs to be approved by shareholders of Neonet.
No Management Shakeup Following Acquisition
Per the acquisition, Neonet will continue to be led by its CEO Tim Wildenberg – additionally, Neonet will be based out of Stockholm regardless of the closing of the deal. The deal is also important for KCG as it's expected to yield significant cost savings via consolidating Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term memberships, market data, routing and other operational costs.
According to Philip Allison, CEO of KCG Europe Limited, in a recent statement on the deal: "We are pleased to announce an agreement to acquire Neonet, a Nordic pioneer in trading and execution services, as we broaden our European reach and continue to bolster our ability to provide clients with global execution solutions.”
“Neonet's sophisticated technology, experienced trading desks, and deep team of execution specialists are highly complementary to our existing execution services and will help accelerate the growth of our agency client business," he added.
"We are excited to join forces with KCG, an established market leader in global execution services. We look forward to leveraging KCG's significant expertise across asset classes in the U.S. and Europe for the benefit of our clients worldwide for years to come,” reiterated Mr. Wildenberg, in an accompanying statement.
KCG Holdings, Inc. (NYSE: KCG) has moved to acquire Neonet Securities AB, a Stockholm-based independent agency broker and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term specialist, in a move to help broaden its European focus, according to a company statement.
Neonet is a provider of advanced algorithmic trading, smart order routing, and sales trading primarily across the European equities space. The acquisition by KCG will help enable clients from the group and Neonet to support greater access to a more complete composite of international execution services and capabilities. In particular, this will emphasize KCG’s latitude on the European continent, with a focus on equities and execution services to banks, brokers, and other financial institutions.
The transaction itself is pending requisite regulatory conditions, though the terms of the deal were not presently disclosed. The acquisition also needs to be approved by shareholders of Neonet.
No Management Shakeup Following Acquisition
Per the acquisition, Neonet will continue to be led by its CEO Tim Wildenberg – additionally, Neonet will be based out of Stockholm regardless of the closing of the deal. The deal is also important for KCG as it's expected to yield significant cost savings via consolidating Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term memberships, market data, routing and other operational costs.
According to Philip Allison, CEO of KCG Europe Limited, in a recent statement on the deal: "We are pleased to announce an agreement to acquire Neonet, a Nordic pioneer in trading and execution services, as we broaden our European reach and continue to bolster our ability to provide clients with global execution solutions.”
“Neonet's sophisticated technology, experienced trading desks, and deep team of execution specialists are highly complementary to our existing execution services and will help accelerate the growth of our agency client business," he added.
"We are excited to join forces with KCG, an established market leader in global execution services. We look forward to leveraging KCG's significant expertise across asset classes in the U.S. and Europe for the benefit of our clients worldwide for years to come,” reiterated Mr. Wildenberg, in an accompanying statement.