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KCG to acquire Neonet

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KCG Holdings is to acquire Neonet Securities, an independent agency broker and execution specialist based in Stockholm, from its shareholders Hay Tor Capital, KAS BANK and Cidron Delfi Intressenter Holding.

Financial terms of the deal have not been disclosed.  
Founded in 1996, Neonet provides a suite of advanced algorithmic trading, smart order routing and sales trading primarily in European equities across 30 public and private markets to approximately 200 clients in more than 20 countries. Neonet strives to deliver transparent execution services to banks, brokers and financial institutions with an optimised balance of quality and cost.
The acquisition will strengthen KCG’s reach in continental Europe and will enable both KCG’s and Neonet’s clients to access a more complete range of international execution services and capabilities.
Philip Allison, chief executive officer of KCG Europe Limited, says: “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.”   
John Ashdown, managing partner at Hay Tor Capital, says: “We are delighted that such a major industry participant as KCG will now take the Neonet business forward to the next level at an immensely exciting time of industry transformation in Europe.”  
Tim Wildenberg, chief executive officer of Neonet, adds: “We are excited to join forces with KCG, an established market leader in global execution services. For the last 20 years, Neonet has focused on putting clients first and providing them with transparent execution services, as well as deep knowledge of international financial markets. We look forward to leveraging KCG’s significant expertise across asset classes in the US and Europe for the benefit of our clients worldwide for years to come.”  

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