KAS BANK to provide services to Neonet in Nordics
16 September 2009
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.”
