GL Instant Brokerage for the UK operations business, Newedge has decided to expand this solution globally to cover its brokerage operations in Paris, New-York and Hong Kong.
GL Instant Brokerage allows Newedge to manage and automate listed derivativesâ brokerage processes. The business component provides Newedge with comprehensive and customisable invoicing features, aged debtor tracking functions and is interfaced with GAINS/GPS (system of invoicing centralization of Give ins and Give ups on the US financial markets). Furthermore to facilitate static data maintenance, GL Instant Brokerage is fully integrated with Newedgeâs global back-office solution.
Newedge has decided to deploy the solution worldwide using GL TRADEâs hosting services, eliminating any technical barriers as all hardware and software will be deployed across a facilities managed solution.
âNewedgeâs execution business is growing and we definitively needed a solution to handle our invoicing and payment recovery processes that could offer powerful specific features while being fully integrated with our books and records allowing a higher degree of STP,â said Alan Dee, Chief Financial Officer for Newedge Europe Middle-East.
âIn todayâs market conditions, market participants are streamlining their organisation, looking for maximum operational efficiency. Accurate and flexible invoicing is important, but powerful aged debtor and payments tracking features are even more demanded. In this context, Newedgeâs decision to significantly expand the reach of our GL Instant Brokerage business component within their organisation is a strong indication of the value and efficiency that it delivers,â added Laurent Jacquemin, Head of Post Trade Derivatives Business Line at GL TRADE.
GL Instant Brokerage is a dedicated solution aimed at futures and options firms offering brokerage services, execution and/or clearing. GL Instant Brokerage offers a complete solution including capturing trades, managing brokerage fees and commissions, generating invoices and issuing accounting entries. This business component belongs to GL Instant Suite: a suite of components aimed at complementing legacy futures and options back office systems in selected areas where the most pressing market demands are identified.