Tradewareâs GlobalX network serves as a âliquidity gridâ for global order flow, providing neutral electronic access to markets worldwide on the agency basis along with efficient post-trade settlement support. Member-brokers can either originate orders, or serve as a destination for order flow, which is executed through local brokers on local bourses. AXES incorporates a significant number of emerging and frontier markets into the already robust GlobalX network. AXES will be able to receive international order flow from GlobalX clients for execution by its broker partner network.
Said Charles Giessen, President of Tradeware: âWe believe that global order efficiency is best achieved through neutral connectivity. It is our goal to provide the underlying grid into which brokers, vendors, and other market participants can link. The agreement with AXES is an opportunity to facilitate capital flows worldwide and to expand the reach of our global network into new markets, leveraging the established presence of AXES.â
Said Peter Gaffney, President of AXES: âOur model is predicated on the ability of sell-side brokers and other market participants to easily access all global markets. Our strategic partnerships with leading brokerage firms with memberships to over 250 equity and equity-derivative exchanges worldwide provides unparalleled coverage. The services AXES provides to its global client base are greatly enhanced by joining the Tradeware network. It automates a manual system, provides for cost and time efficiency, and enables compliance with local regulation.â