Newly established Stockholm brokerage firm relies on Neonet for
execution services to serve its institutional client base.
Neonet, the independent execution services provider, today announced an
agreement with JRS Securities, a Stockholm-based brokerage firm, to
deliver managed execution services for trading in Nordic equities. The
order was booked in Q1, 2012.
JRS Securities is a newly established firm which provides institutions
with research and brokerage services, with main focus on the Swedish
equities markets. JRS has made a strategic decision to outsource all
functions outside its core business. Consistent with this, JRS will rely
on Neonet as one of their main execution service providers, which
eliminates the need for exchange memberships and 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.”
Targeting major institutional investors, JRS has elected not to engage
in proprietary trading or corporate finance services. The service
offered by Neonet allows JRS’ clients to execute directly, as if they
were Neonet customers, while the commercial relationships are maintained
between JRS and its clients.
“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.”
About JRS Securities JRS Securities is a newly established independent
firm in the Swedish financial market. The firm is focused on being a
qualified partner and advisor to primarily Swedish and Nordic
institutions, with a mandate to manage Swedish stock portfolios. It
received a permit from the Swedish Financial Supervisory Authority (FI)
in December 2011 and operations start in February 2012. JRS Securities
currently has 17 employees, of which nine are analysts and 6 are stock
brokers. The staff has a combined industry experience of 300+ years. The
company is owned by employees (70%), the JRS Group AB (20%) and Traction
Invest AB (10%).
For further information, please visit www.jrssec.se.
About Neonet
Neonet offers professional market participants flexible, independent and
transparent execution services based on advanced trading software
solutions. Neonet’s services include a comprehensive execution
management system, advanced trading algorithms, smart order routing,
market data services and a trading desk operated by qualified execution
specialists. Neonet does not engage in proprietary trading or any other
financial activity that could result in a potential conflict of
interest. Neonet serves clients in over 20 countries. Clients include
banks, brokerage firms, institutional investors, hedge funds and asset
managers. Neonet Securities is an Orc Group company. Orc Group is
publicly traded on Nasdaq OMX Stockholm (SSE:ORC).
For further information, visit www.neonet.com.
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