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FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2005
GL TRADE
Ina Hanisch
Executive Vice President, Sales and Marketing
GL TRADE, A PROVIDER
COMMITTED TO THE
FINANCIAL COMMUNITY
GL TRADE is a leading software vendor with
23 offices worldwide and over 1,000
employees. The Group services more than
3,500 clients, including 500 international
financial institutions.
GL TRADE provides a full STP, GL
STREAM Front to Back Solution, a unique
network for the trading community, GL NET,
Market Data and Content in real time, a
Settlement suite and Professional Services.
With its innovative GL STREAM Front to
Back Solution, GL TRADE bolsters its
competitive edge.
GL STREAM Front to Back Solution is
comprehensive, modular and covers the
entire order flow from client connectivity,
order management, trading, market access
to post-trade management.
GL STREAM Front to Back Solution covers
all the steps of the order flow based on 5
lines: Client Connectivity, for a
comprehensive order capture solutions using
FIX, external networks, Internet and the GL
NET order routing network for any type of
executions -in Direct market Access or
through discretionary order routing- with
built-in client risk management (Retail,
Institutional Buy Sides or other Sell Sides).
Order Management, to suit any business
strategy from simple mono-site configuration
to a complete management of the sales to
dealer relationship using powerful rule-based
multisite order routing, with instant position
keeping and crossing automate to leverage
automatic internalization opportunities.
Trading, with an innovative trading system for
accuracy, control and VWAP performance,
advanced trading tools for Program Trading,
Index Arbitrage, Market Making and Fast
Trading, including full APIs-customization
services.
Market Connectivity, to trade electronically
on all types of markets: equities, derivatives,
options commodities with over 100 direct
connections worldwide, with a high level of
performance (2,000 orders/second) and
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With its innovative GL STREAM Front to
Back Solution, GL TRADE bolsters its
competitive edge.
market risk management capabilities to
regulate and control in real time traders
activity, including standardized APIs.
Post-Trade Management, to automate trade
allocation, netting, fees calculation with real
time confirmations (OASYS gateways),
matching and clearing.
A comprehensive offering:
International Order Routing network
GL NET, a secure, high-speed, proprietary
network provides well-established, costeffective
global connectivity to the largest
financial community. With over 550 key
financial institutions accessing more than a
100 equity, bond, commodity and derivatives
electronic markets around the world, GL NET
provides real-time market data and access
to trading via Direct Market Access or
discretionary order routing.
Market Data & Content
GL TRADE offers real-time market datafeed
and is the partner of major news providers:
AFP, DOW Jones Newswires, AFX, Standard
& Poors… available on all GLTRADE
workstations and client web-based trading
platforms.
Settlement & Back Office
For efficient Back Office management, GL
TRADE offers the adapted solution for cash
& securities, listed derivatives instruments as
well as OTC products. In-house or in ASP
Service Bureau, our full Back Office suites
provide real-time, advanced solutions for
financial players to manage efficiently their
capital activities.
Professional Services
With the increasing trend towards real time
electronic solutions, financial IT
infrastructures require major changes and
people to conduct these changes. With a
global network of people and resources,
GL TRADE is ready to assist clients anytime,
anywhere and covers technical and
development support, project management,
DBA expertise and knowledge sharing.
Introducing the new GL
STREAM Workstation
The imminent launch of the GL STREAM
Workstation marks the culmination of an
ambitious project to bring together in a
single integrated front end all the trading &
order management expertise of the GL
TRADE group.
The GL STREAM front- to back- global
trading solution has been an ambitious
project. GL TRADE has had to solve
numerous technological challenges,
incorporate significant acquisitions and also
keep pace with the markets’ natural
evolution.
These acquisitions have provided GL TRADE
with local expertise and useful exposure in
areas where it was looking for strong knowhow.
The major acquisition in November
2003 of various subsidiaries from UK
applications software company Misys
Securities Trading Systems (MSTS) and
more recently Davidge, a US-based
company specializing in smart order routing
and US market connectivity, are good
examples of the expertise GL TRADE has
acquired. Useful knowledge in agency and
market making business in the UK and US,
as well as how to transact extremely large
basket trades, gleamed from MSTS’ strength
in trading in Asia, has been gained.
The latest acquisition of Ubitrade, which
provides an automated back-office system
for listed derivatives, was the final step in
allowing GL TRADE to offer the only
complete solution on the market for
derivative players. GL TRADE is the only
company that provides an order
management (OMS) platform for derivatives
that is linked to a specialized back office
system.
It was logical to incorporate all this expertise
into GL STREAM, rather than to maintain
them in various stand-alone legacy products.
Doing this shows GL TRADE is serious in its
ambition to enhance its position as a global
provider of a genuine front- to back-solution.
It also shows that GL TRADE has been
willing to address one of the main challenges
in the trading area, which is to provide an allin-one,
flexible, fast, robust and
customisable solution for a wide range of
clients. The new GL STREAM Workstation
meets this challenge and represents a
significant step in the overall GL STREAM
solution.