PARIS--(Business Wire)--Regulatory news:
GL TRADE (Paris:GLT), global provider of integrated software
solutions to international financial institutions, today announces the
signing of an agreement with the Tel-Aviv Stock Exchange (TASE). From
April 2008 onwards, this partnership will allow the delivery of a
complete, robust ASP infrastructure connecting TASE members to the
majority of financial marketplaces worldwide, while also enabling them
to receive and execute orders from any country on the exchange.
Both the derivatives and the equities arms of the TASE are
enjoying considerable momentum, offering GL NET's members and their
clients excellent investment opportunities. The TASE plays a key role
in Israel's financial markets with more than 650 listed companies and
an average daily trading volume of USD 500 million in shares and a
daily trading volume of USD 1000 million in fixed income market.
GL TRADE's combined execution and ultra low latency data feed
service will be launched in association with the TASE. At present, GL
NET is a community of more than 650 brokers offering high-performance
connectivity to more than 140 equities, derivatives, commodities,
fixed income and forex markets. It can be accessed through GL TRADE
workstations as well as FIX applications and third-party systems by
both the buy side and brokers.
"We are proud to participate in the development of the Tel-Aviv
Stock Exchange. Since its creation, GL TRADE has focused on enabling
the members of its community to connect to new pools of liquidity and
expanded trading opportunities. The project undertaken with the
Tel-Aviv Stock Exchange is a perfect example," comments Laurent
Breboin, Managing Director of GL TRADE Paris Continental Europe.
www.gltrade.com
Founded in 1953, the Tel Aviv Stock Exchange (TASE) has become the
central economic platform in Israel. The TASE provides trading in
stocks, bonds, T-bills and derivatives, and carries out clearing as
well. It is owned by the stock market members, through which any
investor can trade in securities. The TASE is the "home turf" for
Israeli companies to raise capital for investment and to finance their
business activities, and for the government to privatize its
companies. The TASE is also the center of activity for the public of
Israeli and foreign investors, providing a state-of-the-art trading
arena. For more details, please visit the TASE website at
www.tase.co.il/TASEEng/Homepage.htm.
GL TRADE provides the international financial institutions with
software solutions to cover the entire order flow from the front to
the back office for the buy and sell side: Trading & Order Management,
Connectivity to 140 markets, Execution Management System, Treasury and
Risk Management, Settlement, Network and Market Data.
Headquartered in Paris, GL TRADE has presence in 26 cities
worldwide and employs more than 1,400 people.
GL TRADE is listed on Euronext Paris (ISIN FR 0000072084) and is
part of SBF 250. GL TRADE also joined Next economy segment.
Marianne Quentin
GL TRADE Group Marketing & Communication
marianne.quentin@gltrade.com
+ 33 1 53 40 43 98
Copyright Business Wire 2008
