GL Trade to connect to Tokyo Grain Exchange

Source: GL Trade

GL TRADE, the multi-asset provider of front to back office solutions for international financial institutions, just announced that it passed the conformance tests of the Tokyo Grain Exchange going electronic on October 1st, 2007.

The exchange lists agricultural products (Soybeans, Azuki Bean, Corn, Soybean Meal, Coffee, Raw Silk and Vegetable) and sugar products.

FIMAT selected GL TRADE to connect to TGE when it will GO LIVE. GL TRADE has developed a gateway directly connected to the central system of the exchange. The group will offer market data and electronic order routing to all local and international members as well as their clients. GL TRADE already connects to more than 130 electronic exchanges worldwide, including equity and derivatives markets, including commodities.

"We are very pleased to strengthen our partnership with GL TRADE by connecting to Tokyo Grain Exchange via GL TRADE gateway. This is an important development for us which fits into our commitment to the Japanese commodities markets we are now members of," commented Julien Le Noble, CEO of Fimat in Japan. "Most of all, our clients will not only benefit from GL TRADE expertise of market connectivity but also from the Direct Market Access Fimat will be able to offer them via the GL NET extensive network."

"We've worked closely with TGE to complete successful conformance tests and we're now ready to offer order flow from the GL TRADE customer community," comments Charles Henry Choel, Deputy regional CEO Asia. "We're honoured that FIMAT be our first client on that market since they are long time partner in Asia."

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