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Screenshot of a breaking news alert e-mail from Q2 2017
Broker and liquidity agnostic execution specialist Neonet has announced that it has extended the functionality of its interface with Visual Trader, Spain’s leading trading platform, owned by Bolsas Y Mercados Españoles (BME).
The two companies have been working together for a number of years. This enhancement will enable Neonet clients to use the powerful execution algo suite and smart order router to maximize liquidity and access a wide range of regulated marketplaces across Europe and North America.
Tim Wildenberg, CEO Neonet commented “We are pleased to announce that our latest algorithmic trading functionality has been added to our existing DMA integration with Visual Trader. We now have our first Spanish client certified and in production and are looking forward to rolling this functionality out across the rest of our client base who use Visual Trader as their trading platform”.
Jose Parga, CEO Visual Trader added “the trades and orders sent by the algorithms will be integrated into Visual Trader’s OMS and terminals, so that users can monitor and manage them. In addition, Visual Trader’s Risk Management System will also oversee the models’ operations as if they were a trader’s.”
American venues have always been the lynchpin of algorithmic trading, particularly among Chicago’s long-established proprietary trading desks. This move by Neonet, whilst benefiting the stalwarts of the industry, serves as another demonstration by a renowned institutional technology firm that participants using algorithms at exchanges are not dissuaded by the European Commission’s continued attempts to stem order flow from high frequency or algorithmic trading.