GL Trade connects to South African Futures Exchange
18 October 2006 | 1305 views | 0
Source: GL Trade
GL TRADE, global provider of front to back solutions for international financial institutions, announces the launch of direct connectivity to SAFEX, the South African Futures Exchange, providing direct market access to both Financial and Agricultural Futures markets.
In 2001, SAFEX and the JSE-Johannesburg Securities Exchange members agreed to the buyout of SAFEX by JSE; the JSE agreed to retain the SAFEX branding and created two separate divisions - SAFEX Financial Derivatives and SAFEX Agricultural Derivatives.
GL TRADE has developed direct market access for members and will be offering SAFEX via its international proprietary network, the GL NET, for market data feed access as well as Exchange order routing. The GL NET community represents more than 650 of the largest international financial institutions and already provides access to more than 125 Equities, Derivatives, Commodities, Fixed Income and FOREX platforms. GL NET is available for both Buy Side and Sell Side institutions via GL TRADE workstations, FIX and other third-party applications.
"SAFEX volumes are constantly increasing and GL NET institutions can now easily be enabled to route orders to SAFEX, a key emerging market", comments Philippe Carré, GL CONNECT Managing Director. "We implemented this new access following growing client appetite for emerging markets. Our clients once again have given us the impetus to be a step ahead, being the only global ISV to support such a wide range of connected markets."