Source: GL Trade
GL Trade, the leading international provider of front to back office software solutions for financial institutions, will supply Paris-based H & Associés, a Receiver and Transmitter of Orders (RTO), with its Order Management System (OMS), including all the modules required for the planned implementation of MiFID in November 2007.
The GL TRADE Group's OMS solution allows full and flexible management of order flows to ensure more effective real-time processing of orders, from initial receipt to completion of the deal. The MiFID modules supplied by GL TRADE combine data aggregation with execution platforms in ASP form, enabling brokers to connect rapidly to new pools of liquidity. For H & Associés, the system meets the requirements of the new directive: introduction and monitoring of a 'best execution' policy, order traceability, demonstration of the quality of execution and client reporting.
"We are delighted that H & Associés has chosen GL TRADE and its full product offering to enable and guarantee compliance with MiFID for this R.T.O." noted Laurent Breboin, Regional CEO, GL TRADE Paris Continental Europe. "Our aim has always been to offer our clients the tools needed to ensure that MiFID has the smallest possible impact on their day to day lives whilst maintaining a consolidated view of market opportunities, and we have succeeded in doing this."
"We believe that this industry is founded on high-performance tools, but also, and more importantly, on the quality of the men and women working in it. This said, to ensure that our clients and our staff can work to their full potential, we need a combination of talent and tools", comments Pierre Perrine CEO, H&Associés. "By selecting GL TRADE to supply our critical systems and help us manage the changes that will result from the implementation of MiFID, we can focus our energy on providing the customer service and added value on which our company has been built. Are we not, after all, defined by the regulations as an Investment Service Provider?"