Neonet has appointed KAS BANK as General Clearing Member in Nordic markets
Further to our earlier press release concerning the inclusion of the Nordic markets to our European integrated clearing and settlement platform, we can now proudly announce that Neonet has selected KAS BANK as its General Clearing Member for the Stockholm segment of NASDAQ OMX. The appointment will become effective as of 9 October, the formal implementation date of the CCP structure.
Our earlier announcement has drawn substantial attention from a number of specialised firms, who acknowledge our long experience as a specialized, neutral and independent service provider for clearing and settlement services. We expect to make additional announcements in the coming weeks and months.
KAS BANK offers Trading Member Firms the advantages of its integrated clearing, settlement and custody services for their transactions executed on NASDAQ OMX and related Multilateral Trading Facilities (MTFs). With the addition of the Nordic exchanges, KAS BANK strengthens its European strategy and offers its post-trade securities services and solutions linked to 22 regulated exchanges and seven MTFs in the European market place.
Simon Nathanson, President and CEO of Neonet, says: ”We have a long relationship with KAS Bank in Europe and we are happy about their introduction on the Nordic market. The post trade market is complex and we welcome the increased competition that KAS brings along to the Nordic region.”
Sikko van Katwijk, CCO of KAS BANK says:”We are very pleased that Neonet has chosen KAS BANK, which is a significant boost to our strategy in the Nordic markets. KAS BANK’s extensive experience of clearing through CCPs will certainly lead to the further growth of our client-base in this important region.”
About Neonet Neonet is a global agency brokerage firm and technology provider, offering professional market participants neutral, high speed brokerage services and advanced trading software solutions. Neonet’s in-house developed platform offers connectivity to the world’s leading market places globally across the key regions of North America, Latin America, Europe, Asia and Australia. Neonet’s cutting-edge technology solutions, Neonet XG, include an integrated product suite. It features high speed market connections, a comprehensive execution management system, market data services and advanced trading tools. Neonet is listed on NASDAQ OMX Stockholm and has clients in over 20 countries globally. For more information, please visit: www.Neonet.com
About KAS BANK KAS BANK is a European specialist in wholesale securities services. As an independent bank, KAS BANK connects professional financial institutions both within Europe and across the globe. KAS BANK’s focus is providing added-value services to European organisations active in the clearing, settlement and custody industries. KAS BANK views the markets from the perspective of its clients – tailor-made services and complete transparency are paramount in helping them to meet their business objectives.