GL TRADE AND EURONEXT-LIFFE AGREE APPLICATION SERVICE PROVIDER (ASP) OPTION

GL TRADE, global provider of electronic trading, clearing and settlement solutions, has increased the scope of its Tier One service bureau offering to cover internet opportunities with Euronext.liffe, which offers brokers a low cost entry opportunity to trade directly on the Exchange. GL TRADE’s agreement with Euronext.liffe now allows access to LIFFE CONNECT® either through the Internet or via GL NET, GL TRADE’s dedicated order routing network. In this way the trader will be able to trade the Euronext markets in Amsterdam, Brussels, Lisbon, London and Paris.

GL TRADE plan to continue its strategy to develop Service Bureau offerings, with the next developments planned for eCBOT and Montreal Exchange.

Patrick Tessier, CEO of GL TRADE LNE observed, ‘This development is part of our overall strategy to offer efficient cost-effective solutions that suit companies requiring only a few trading screens. These same companies could, in the future, expand globally and the demands for functionality and global reach will change. GL TRADE’s scaleable and flexible systems can meet an organisation’s need at every stage in their growth.’

This extended service offering means that GL TRADE hosts and maintains all trading and market data feed hardware and software, allowing brokers to benefit from a fast market access with minimum financial or technical investment. Dedicated GL TRADE support teams provide updates and software releases when necessary. Brokers using the service bureau solution can download the trading application software directly onto their desktop and trade immediately.

Paul MacGregor, Director of Technology Partnerships at Euronext.liffe observed: "We are pleased that GL TRADE has extended the reach of its offering and joined our growing community of ASP providers, allowing customers the flexibility to select their bandwidth for accessing LIFFE CONNECT®, according to their needs".

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