GL Trade offers hosted bureau connection to LSE's Sets

GL Trade offers hosted bureau connection to LSE's Sets

French dealing systems vendor GL Trade is to offer European brokers hosted bureau access to the London Stock Exchange's Sets trading service.

The vendor's service bureau will provide traders with connectivity to Sets via the Internet and its GL Net order routing network. GL Trade will host and maintain all trading and data management systems as well as provide updates and software releases when necessary. Brokers using the service can download the trading software directly onto their desktops.

Martin Graham, director of market services, LSE, says with barriers to European cross-border trading coming down, brokers are increasingly looking for ways to more effectively access other markets.

"This agreement will make it easier for brokers based outside the UK to access the Exchange's trading systems and will help our continued drive to recruit more international member firms," adds Graham.

The vendor says brokers from France, Holland and Russia have already shown an interest in the service bureau.

GL Trade is also expected to provide trading access to the LSE's new EuroSets Dutch service, which is due to go live in May.

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