GL TRADE announces MainFirst Hong Kong live on GL RIMS to cover Korean and Taiwanese markets

10 December 2008

GL TRADE, global provider of multi-market and multi-asset solutions for international financial institutions, announced today that MainFirst Securities Hong Kong has gone live with the GL RIMS Middle and Back Office platform for their post-trade processing on Korean and Taiwanese markets, in addition to its existing Asian Pacific markets. MainFirst Securities Hong Kong started their operations in March 2008; they provide their clients with independent research services in Asian equities.

MainFirst selected GL TRADE’s hosted GL RIMS solution because of its real-time capabilities such as the transaction capture feed from the front office. GL RIMS also automates settlement instructions to custodians, trading ledger and position keeping. Thanks to the interface with Omgeo CTM, the client benefits from full straight-through-processing (STP) for confirmations to their clients and allocations management.

Derick Li, Finance Director at MainFirst Securities Hong Kong, commented: “Asia is a fast growing market; we need a reliable and easy to expand post-trade solution to support our ongoing growth and front-office demanding requirements and bring our clients the quality of service they expect. We are confident GL RIMS is able support us in this challenge, the GL RIMS teams are great experts in this business; they quickly understood our requirements and worked with us to get the system in production in 2 months. We are delighted to have achieved such a target today.”

Alex Walker, Global Head of GL TRADE’s post-trade for securities business line added: “This new contract confirms GL RIMS as a perfect match to the Asian markets’ specific elements. We are delighted to have MainFirst Securities Hong Kong on our growing client list in Asia”.

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