Program trading is the execution of a portfolio of different securities during a certain time period. NeoNet claims its new functionality, which forms part of the NeoNet Trader platform, will allow clients to more effectively execute trades directly via direct market access (DMA) and will complement program trading services over the company’s trading desk.
According to NeoNet, the enhanced program trading functionality includes pre- and post-trade analytics to identify effective execution strategies and track trading performance. It also provides slicing and wave functionality, which enables orders to be distributed in simultaneous waves, and a flexible importing and staging functionality to facilitate the uploading of the program to the NeoNet Trader front-end.
We have added the enhanced functionality in response to the growing demand for electronic program trading capabilities among our professional investor clients, said Patrik Westerberg, CIO of NeoNet. This gives clients the opportunity to effectively execute program trades in-house with total control and transparency.
