Landsbanki Kepler opts for GL TRADE and its MiFID solutions

Paris - 21 November 2007

GL TRADE, international provider of front to back office solutions for international financial institutions, and its MiFID offering have been chosen by Landsbanki Kepler, leading European broker.

GL TRADE supplies Landsbanki Kepler with the functions for compliance with the directive but also enables it to benefit from opportunities brought about by market fragmentation: real-time market data aggregation, smart order routing (execution optimization and automation) and execution audit and benchmarks.

GL TRADE is the first pan-European provider to offer real-time market data aggregation for MiFID and to link it to execution. The group offers access to multilateral trading facilities (MTF) as well as solutions offering the best real-time execution (smart order routing). GL TRADE’s system also supplies full order traceability, archiving of market data for five years and access to execution benchmarks based on transaction cost analysis (TCA) indicators.

After a full-scale validation phase, the MiFID solutions for Landsbanki Kepler came into force in mid-November.

“Landsbanki Kepler is using GL TRADE’s systems to link to 17 Cash markets (including Chi-X) and has a range of flexible tools at its disposal to cope with the changes brought by MiFID,” explains Thomas Biotteau, Head of Front Office projects for Landsbanki Kepler. “The choice of GL TRADE as a competitive and innovative provider of trading solutions means we can and will continue to give best execution for our clients in what is a time of great change for European markets.”

“We are proud that GL TRADE has been chosen by Landsbanki Kepler,” comments Laurent Breboin, Regional CEO GL TRADE Paris Continental Europe. “We have worked hand in hand to get Landsbanki Kepler’s execution policies working together with our solutions so that they can draw maximum benefit from the liquidity of securities at the same time as complying with MiFID.”

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