Equiduct Trading and GL TRADE provide new best execution opportunities through market connectivity

24 July 2008

Equiduct Trading will provide a pan-European single point of connectivity for trading services through the Regulated Market operated by Börse Berlin. The launch of the trading platform is scheduled for the 4th quarter. GL TRADE, global provider of multi-asset trading software solutions for international financial institutions, will introduce member connectivity to the Equiduct Trading Platform for its clients.

Equiduct Trading's innovative Best Execution and trade reporting services will drastically reduce the cost and time required for participant firms to achieve MiFID compliance in these areas, while simultaneously enabling MiFID-related revenue streams and market penetration. Additionally, Equiduct Trading offers very low cost per transaction relative to other exchanges, guaranteed execution in a protected environment as well as unique Clearing & settlement flexibility. Market participants will benefit from Equiduct Trading's transparent environment and will receive the guaranteed best price and very low transaction cost.

GL TRADE has developed a suite of software products and services to allow trading firms to maximise the opportunities created by the post-MiFID market environment. Client firms can aggregate price data into a single European order book, and then use GL TRADE’s Smart Order Router to drive decisions on how and where to place their own trades, in order to obtain the best possible results. Further, GL TRADE products enable also brokerage firms and their clients to build and report on the audit databases that allow best execution to be monitored. This suite of products is in daily use at several client organisations.

Artur Fischer, Joint CEO of Equiduct Trading: “The Equiduct Trading innovative market model guarantees best execution order by order as required by the European Markets in Financial Instruments Directive (MiFID). Naturally, as a stock exchange it is very important to offer our market participants easy access to our new MiFID-compliant trading segment by using market standards along with all related trading services. Therefore, we have decided to cooperate with GL TRADE, one of the financial industry’s most experienced trading software providers. Moreover, our future pan-European members will benefit from GL TRADE’s broad European coverage. Using GLNET, our members and their buy side clients will be able to connect easily to our system and thus benefit from our Best Execution trading services.”

Vincent Burzynski, GL TRADE Managing Director for Products and Marketing, confirms: “It is GL TRADE’s strategy to provide connectivity to all significant European equity trading venues, and our work with Equiduct forms an important part of this strategy. We look forward to a successful partnership with Equiduct as we are both targeting to deliver efficient cross-border trading solutions to our clients, and also real Best Execution with our Smart Order Router and Equiduct’s VBBO (Volume weighted Best Bid Offer).”

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