NEON was developed internally by the Exchange to provide a gateway for firms and traders to route orders to the Exchange's energy and metals markets. The network uses an open API that conforms to the industry standard Financial Information eXchange (FIX) 4.2 message formats and provides firms with a web–based display for order data including status and fill details.
The Exchange last week informed the members of both of its divisions that brokers may now register to use NEON, but must also enlist their FCM, order management system (OMS) vendor, or other source of electronic order flow to sign up.
Kevin Kennedy, chief technology officer of Prudential Financial Derivatives, LLC, said,"NEON is a robust platform that easily integrated into Prudential's infrastructure. NEON's flexibility furthers our ability to meet our electronic trading needs on one single and dynamic platform."
Sam Gaer, chief information officer for the Exchange said, "We are proud to have expedited the introduction of this state–of–the–art technology into our gold and silver futures rings. We will be working very closely with a number of our top FCMs to introduce this system to their customers and congratulate Prudential on the expeditious and accelerated fashion in which it took action to launch this next generation of open outcry technology."
