Source: GL Trade
GL Trade, the global provider of front to back office solutions for international financial institutions, is adding Borsa Italiana markets to its Pan-European ASP platform following an agreement to use the Italian and International hubs of BIt Systems, the IT Company of Borsa Italiana Group.
Borsa Italiana regulates and manages the Italian equities markets, the Italian Derivatives market, the securitised derivatives market, the electronic Fixed Income market and the electronic share market.
GL TRADE will also launch a specific offering based on the GAM light service provided by Borsa Italiana for smaller institutions wishing to take advantage of this new Exchange offering.
Brokers now have a cost-effective opportunity to trade directly on those Exchanges, depending on their requirements they will use either the Internet, VPN connectivity or the GL NET, the dedicated order routing network owned and operated by GL TRADE. GL TRADE hosts and maintains all Exchange trading and market data feed hardware and software, offering brokers rapid deployment and significantly reducing their financial and technical overheads.
"The agreement with GL TRADE represents another important stage in the development of BIt Systems' ASP services which are currently offered through our hubs located in Milan, Rome and London", says Claudio Modenesi, Head of Application Services Providing for BIt Systems, "and we are convinced that the combination of our Companies' mission and expertise will be able to provide the Customers with an innovative, efficient and cost-effective service model".
"The positioning of GL TRADE in Italy is strong, thanks to brokers' confidence in the reliability of our technology and market access coverage," comments Philippe Carré, Global Head of Client Connectivity for GL TRADE. "Twenty years of expertise on market connectivity together with our ability to provide efficient and cost effective technology has enabled our clients to fulfil successfully their trading needs at every stage of their growth."