GL Trade signs Bank of East Asia to Rubyx options trading technology
08 May 2007 | 2087 views | 0
Source: GL Trade
GL TRADE, global provider of front-to-back office software solutions for international financial institutions, announces that The Bank of East Asia (BEA), the largest independent local bank in Hong Kong, has selected GL TRADE options trading station, GL RUBYX to handle market making on 10 equity options on Hong Kong Futures Exchange (HKFE) currently.
GL RUBYX meets the specific needs of traders, hedgers and market makers by automating trading and quoting on a number of option classes simultaneously on multiple exchanges.
BEA makes use of GL RUBYX to perform automatic answer to quote request, automatic hedging of positions and neutral delta hedging. GL RUBYX complies with the Exchange requirement by providing complete statistics in real-time of BEA's reply to quote.
"In selecting a new Options trading system we needed to find the right balance of functionality, performance and platform reliability," commented Clarence Yeung, BEA's Head of Structured Products Department. "With GL RUBYX and GL TRADE we found both a product which fits our needs and a partner who really understands our business."
"GL RUBYX is reliable and mature, renowned in an environment where success demands a fast and automated trading system to get even the smallest time & price advantage," comments Lionel Sancenot, Managing Director, GL TRADE Hong Kong. "We are delighted that The Bank of East Asia selected GL RUBYX."