GL TRADE establishes strategic presence in Mexico

24 April 2007

GL TRADE, global provider of integrated software solutions to the financial institutions, announces that it will offer direct connectivity to MexDer, through Scotia Inverlat Derivados, S.A. de C.V as a part of Scotia Capital, in an agreement that represents a milestone for both companies.

Scotia Inverlat becomes GL TRADE’s first Mexican-based client and also becomes the first Clearing Member of MexDer to offer Direct Market Access through the GL NET, GL TRADE’s proprietary international market data and order routing network.
Market access is delivered through GL TRADE ASP offering co-located with the exchange in Mexico City. Jorge Alegria, CEO of MexDer said, “It has been a pleasure to work with GL TRADE, and we are happy to provide this technical solution to further increase the order flow to MexDer.”

“We are very excited to be part of the GL NET and offer clients Direct Market Access to the MexDer,” added Guillermo Camou, Director, Scotia Capital. “We have already had discussions with many GL NET members all over the globe who are anxious to start sending u s order flow.”

Robert Brown, Managing Director, GL TRADE added, ‘We made a strategic decision to invest in the Mexican market to meet a growing customer need. I’m delighted we have established both a robust service offering in conjunction with the exchange and also to enable low latency access to this exciting market to our customers.’

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