MainFirst Bank implements GL Trade hosted OMS

Source: GL Trade

GL TRADE, global provider of front-to-back office software solutions for international financial institutions announces that MainFirst Bank AG is extending its existing GL SETTLE Back-Office infrastructure with a fully hosted GL TRADE order management system.

MainFirst Bank AG is a rapidly growing private, independent bank which services institutional investors with research and trading activities completely free of third party interests.

The solution includes sales and dealer screens to be installed in both Frankfurt and London. Mainfirst Bank AG will connect to the GL NET, the GL TRADE proprietary network for multi- market order routing and use a hosted GL XETRA Gateway to trade the domestic German market. They will be able to receive order flow for all European markets from buy-side clients in FIX.

The order management system, a component of the GL STREAM front-to-back solution, offers complete management of the sales to dealer relationship using powerful rule-based multi-site order routing, book management, and the crossing automate.

Oliver Haseley, Head of Trading for MainFirst Bank AG in Frankfurt says: "We looked at a number of different solution providers and chose GL TRADE because of the user friendliness and rich functionality of the trading front end, their ability to manage our client connectivity as well as the obvious synergies between the GL OMS and the GL SETTLE systems. GL TRADE has been very proactive in their approach to MiFID and we are confident that the chosen solutions will give our clients and ourselves the security of knowing we are prepared for the upcoming requirements. The GL's team impressed us with their understanding of our business and ability to fit their solutions to our needs."

"We are delighted that in the highly competitive German market, MainFirst Bank AG have chosen to partner with GL TRADE for their trading needs" comments Katherine Starks, Sales Director of GL TRADE Frankfurt. "By adding our front-office software to their existing GL SETTLE installation, they have once again shown their confidence in GL TRADE and our ability to deliver a full front-to-back office solution".

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