With the implementation of this hub, GL TRADE offers the ability for international investors to send electronic orders cost-effectively to Mexican brokers via GL NET, enabling them to trade on the two Mexican exchanges. Secondly, Mexican financial institutions can access the GL NET community of over 300 brokers, providing DMA execution services to more than 140 markets.
MexDer and BMV have already opened up to international traders via local brokers. Spanish banks, for instance, have shown great interest in these exchanges, and US traders are increasingly looking beyond their national boundaries for investment opportunities. GL TRADE provides direct connectivity in ASP to MexDer, and links to BMV via several order-collecting brokers.
Gerard Varjacques, CEO of GL TRADE Americas, says: âThe global reach of GL TRADE will bring immense value to our Latin American clients. Mexico is our first hub in Latin America, which will be followed soon by SÃ£o Paulo, Brazil, where we have set up a local office to respond to the increasing demand on both equities and derivatives. Our comprehensive suite of products provides local and international connectivity. This allows us to develop a strong business in Latin America based on partnerships with exchanges and local firms.â
Philippe CarrÃ©, Global Head of Client Connectivity, adds: âWe see increasing interest in emerging markets from our clients globally, especially with the acceleration of the growth of electronic trading worldwide. Client demand for tapping into frontier markets has been driving the expansion of the GL NET reach, with the opening of new GL NET hubs in Istanbul, Warsaw, Tel Aviv, Shanghai and now Mexico over the course of 2008.â