GL TRADE extends its ASP client connectivity to Financial & Energy Exchange (FEX), Australia

27 August 2008

GL TRADE, a global provider of multi-market and multi-asset solutions for international financial institutions, is pleased to announce that the group will provide ASP connectivity to Australia’s Financial & Energy Exchange (FEX). Under this agreement between GL TRADE and FEX, GL TRADE’s clients will be able to trade FEX products through the GL CONNECT ASP (Application Service Provider) service. The FEX market gateway development will be completed in Q3, 2008.

The major benefits of rolling out an ASP service are reduced costs, simplicity and reliability of a platform monitored by GL TRADE’s experts 24/24. Under the ASP model, while GL TRADE takes care of the technology platform, users are in control of what they do with the software.

Through GL TRADE’s Sydney based GL NET Hub, GL TRADE’s customers and FEX participants will be able to benefit from high performance gateways and ultra low latency market data. GL TRADE‘s Sydney hub is the 30th ASP solution worldwide.

GL TRADE’s DMA Execution Services offering will allow financial institutions to access almost 100 financial markets worldwide including Equities, Commodities, Derivatives, Fixed Income and Forex via GL NET, the proprietary international market data and order routing network
GL TRADE owns and operates.

The Financial & Energy Exchange (FEX) is building a world class exchange platform, focused on developing a suite of services for the Asian energy markets. The benchmark FEX products will include traditional Asian energy products such as crude oil and thermal coal. The offering will also extend to emerging energy and environmental products to help service existing and new liquidity pools. The FEX exchange traded futures market will utilize OMX. The Clearing Corporation of Chicago, the world's largest independent clearing house, will provide clearing services.

Nicolas Karonis, Managing Director at GL TRADE Australia comments: “We are proud to participate in the development of the Financial & Energy Exchange’s international and domestic activities. Since its creation GL TRADE, has focused on enabling the members of its community to connect to new exchanges.
Offering this ASP Solution is another good example of our commitment to the financial community, to continue expanding their trading opportunities.”

Tom Price, Executive Director at FEX says: “We appreciate the professionalism and responsiveness of GL TRADE in meeting the stringent infrastructure support requirements that we demanded for the FEX derivative market structure. GL TRADE will definitely enhance the global distribution of our energy and environmental product.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development