Visual Trader Systems, the technology company subsidiary of Bolsa de Madrid and Bolsa de Valencia, has signed a European distribution agreement for its front office Multimarket Terminal trading system with Italian software house TAS.
The Multimarket Terminal provides screen-based order routing and connection to the main European and US markets.
Gabriel Domínguez, Visual Trader's chairman says the deal with TAS will help to increase the visibility of the technology outside Spain.
The two companies began co-operating eight months ago on a project to interconnect their respective order routing systems.
Pompeo Busnello, TAS's chairman, comments: "We are confident that the new initiative will be successful because of the competitiveness of the solution and also because we can offer to hundred of customers a product that can be immediately integrated. In this regard, several clients have expressed their interest in acquiring the company's product shortly."
He says the deal fits the company's strategy to expand abroad through its companies in France and Spain and through a wider offer of new solutions for online trading and routing of stock exchange orders on national and international markets.
Under the agreement, TAS has the exclusive rights to licence the Visual Trader Multimarket Terminal to its customers in Italy, and the authorisation to distribute it in France, Netherlands and Principality of Monaco.