KAS BANK has been chosen by Neonet to act as its General Clearing Member for the Stockholm segment of NASDAQ OMX.

The appointment, which will become effective from 9 October 2009, follows an earlier announcement by KAS BANK that it is to include the Nordic markets on its European integrated clearing and settlement platform.

KAS BANK's post-trade securities services and solutions are linked to 22 regulated exchanges and seven multilateral trading facilities (MTFs) in the European market place, and its integrated clearing, settlement and custody services are available to Trading Member Firms for transactions executed on NASDAQ OMX and related MTFs.

"We have a long relationship with KAS BANK in Europe and we are happy about their introduction on the Nordic market," commented Simon Nathanson, president and CEO of Neonet. "The post trade market is complex and we welcome the increased competition that KAS BANK brings along to the Nordic region."

Sikko van Katwijk, CCO of KAS BANK, added: "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."

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