GL Trade reports strong take-up of ASP connectivity to OMX exchanges

Source: GL Trade

GL Trade, the global provider of front to back office integrated solutions for international financial institutions, announces strong take-up for its ASP connectivity to the OMX Nordic and Baltic Exchanges, available since late 2006.

More than 10 market connections have already been completed with a further half a dozen financial institutions expecting to leverage the connectivity to this new ASP offering. With clients located in Finland, France, Iceland, Sweden or the United Kingdom, this new offering from GL TRADE is reaching both the established Nordics community as well as remote members keen to experience Exchange connectivity in a managed environment.

OMX offers access to Nordic and Baltic securities listed on the Stock Exchanges linked via the OMX central trading engine: Copenhagen, Helsinki, Oslo, Reykjavik, Riga, Stockholm, Tallinn and Vilnius. Between January and October 2007 the value of Equity trading on OMX Nordic Exchange was €1,137 bn with trading volumes reaching more than 39 million trades. Also, the volume of derivatives trading for equity and fixed income products reached more than 138 million contracts.

Connectivity in ASP, the hosted Exchange trading service offered by GL TRADE, also covers access to the derivatives markets of OMX Nordic Exchanges & EDX, including the recently launched Russian IOB Equity Derivatives Service; the provision of a multi-asset, multi-market ASP solution on a turnkey basis remains a key differentiator for GL TRADE.

"We are extremely honoured by our clients' confidence into our ASP offering on OMX", comments Philippe Carré, Global Head of Client Connectivity, GL TRADE. "Our unrivalled expertise on fully hosted market connectivity offering with our ability to provide integrated front to back systems will help us reinforce and expand our presence within the Nordic region."

Jukka Ruuska, President Nordic Marketplaces, OMX commented, "OMX and GL TRADE have nurtured a strong relationship over a number of years and we congratulate GL TRADE with their successes. OMX Nordic Exchange is continually developing new and extended services that enable both our members and potential members to benefit from increased business opportunities in our markets with strong flexibility and we have been grateful for GL TRADE's contribution to these efforts."

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