GL TRADE, the leading provider of financial trading software, has received certification to operate on the Chicago Board of Trade's new e-cbot trading platform.
At the end of November, e-cbot will replace the exchange's existing a/c/e platform, powered by the Eurex technology, with a platform based upon the LIFFE CONNECT technology. GL TRADE immediately adapted its systems according to the new platform. This approach is consistent with GL TRADE's policy to provide and maintain connectivity to worldwide electronic exchanges. GL TRADE is amongst the first ISVs to meet the mandatory requirements for e-cbot.
e-cbot, offers a number of competitive advantages through the new LIFFE CONNECT platform, to help trading be more effective and profitable including greater trading flexibility, enhanced reporting and historical information as well as complete front end flexibility. Traders on e-cbot using GL TRADE solutions are able to benefit from all the new functionalities provided by the exchange.
Gerard Varjacques, CEO of GL TRADE in the Americas, said: "The CBOT is a very important market not only for our clients, but for GL TRADE. As the leading provider of electronic exchange connectivity, the certification with e-cbot allows us to continue to meet the demands of our clients for connectivity to the global markets."
Background Note: Established in 1987, GL TRADE is a leading provider of real-time financial data feed, trading and clearing solutions. Headquartered in Paris, GL TRADE has offices in 19 countries and employs over 860 people worldwide. It has over 3,500 clients, including 500 international financial institutions.
Its principal activities are the sale and support of electronic routing systems and electronic exchange interfaces for both financial equity and derivative markets. GL TRADE operates via its proprietary trading network, GL NET, on more than 60 electronic markets around the world.
Since its creation, GL TRADE has experienced constant profit growth. In 2002, GL TRADE's turnover was EUR128.9m, a 26% increase over 2001.
GL TRADE is listed on the Nouveau Marché and joined the NextEconomy segment in 2002.
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