GL TRADE (Paris:GLT), the leading international provider of front to back office software solutions for financial institutions, is pleased to announce an exclusive and international partnership with Nexfi to distribute their next generation Multi Asset Portfolio Management System. This partnership is accompanied by the acquisition of 30% of Nexfi by GL TRADE.
With this partnership, GL TRADE expects to develop synergies with its existing Buy Side solutions, especially the GL EMS. GL TRADE clearly confirms its ambition to become a key partner for the Buy Side international community.
A successful and proven Portfolio Management solution provider
Nexfi has been active in the French financial community for several years and it has developed a reliable, efficient and scalable Portfolio Management System. The company has developed an impressive customer base including several international and French financial institutions. In 2007, the company achieved turnover of €3.4m based on a strong growth record.
Nexfi currently employs 30 staff based in Paris, France. The company relies on a seasoned and dynamic management team.
"The two companies complement each other perfectly. Nexfi's product suite will allow us to meet the strong demand of our Buy Side clients and prospects to enrich our offering with a real PMS capacity. Furthermore, Nexfi was looking for a strong global partner to help with the international development of the company commented Philippe Rapp, EVP Strategic Development and M&A at GL TRADE.
"Through this partnership with the GL TRADE Group, our product will be delivered to the international community after having been very successful in France. We strongly believe that this partnership will offer a valuable and reliable alternative in the Buy Side community and will allow both companies to develop quickly their positioning" added Thierry Martin, Sales Director. "With our combined strengths and network, we are confident that we will be very quickly recognised as a global and reliable partner for the international Buy Side community."