GL Trade, global provider of integrated software solutions to international financial institutions, today announces the signing of an agreement with the Tel Aviv Stock Exchange (TASE).
From April 2008 onwards, this partnership will allow the delivery of a complete, robust ASP infrastructure connecting TASE members to the majority of financial marketplaces worldwide, while also enabling them to receive and execute orders from any country on the exchange.
Both the derivatives and the equities arms of the TASE are enjoying considerable momentum, offering GL NET's members and their clients excellent investment opportunities. The TASE plays a key role in Israel's financial markets with more than 650 listed companies and an average daily trading volume of USD 500 million in shares and a daily trading volume of USD 1000 million in fixed income market.
GL TRADE's combined execution and ultra low latency data feed service will be launched in association with the TASE. At present, GL NET is a community of more than 650 brokers offering high-performance connectivity to more than 140 equities, derivatives, commodities, fixed income and forex markets. It can be accessed through GL TRADE workstations as well as FIX applications and third-party systems by both the buy side and brokers.
"We are proud to participate in the development of the Tel-Aviv Stock Exchange. Since its creation, GL TRADE has focused on enabling the members of its community to connect to new pools of liquidity and expanded trading opportunities. The project undertaken with the Tel-Aviv Stock Exchange is a perfect example," comments Laurent Breboin, Managing Director of GL TRADE Paris Continental Europe.