EFG Private Bank live with GL Stream

EFG Private Bank live with GL Stream

Switzerland's EFG Private Bank has implemented Paris-based GL Trade's front-to-back trade management software, GL Stream.

The bank is using the software to manage trades executed on the Swiss equity market, SWX-Virt-x.

GL Trade says the module will enable the bank to handle client allocation, settlement and fee calculation automatically and in real time.

Patrick Romanens, general secretary of EFG Private Bank, says: "We are now able to supply our clients with execution confirmation including all taxes and brokerage fees within half an hour of the market close, which enhances our efficiency and flexibility."

Romanens says the bank also intends to extend the implementation to handle trades executed on other markets via the GL Net order-routing network.

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