GL TRADE has indeed successfully completed the backwards compatibility test against LIFFE CONNECT Version 8.0.3. This ensures the GL TRADE existing software for 7.1 is compatible with the new implementation of the gateways and Trading Hosts which will be upgraded on October 11 and October 25, 2004.

Euronext.liffe will provide LIFFE 8.0.3 users with new "Prof Trades", additional order strategy Open/Close indicators and account authorization functionality. A "Prof Trade" is a pre-negotiated trade that takes place outside the central order book. It results from the matching of two Prof Trade 'intentions' that contain all information to identify the 'intended' counterparty.

GL TRADE has improved its GL STREAM™ Trading functionality with a new order entry box for option and strategy trading, for Prof Trade order management. Technical enhancements have also been implemented to optimize servers in order to be fully compatible with the expected growth of market data feed.

"GL TRADE is already Tier One certified for Euronext .liffe markets and we are firmly committed to providing our customers with the best possible service”, comments Philippe Carré, Head of Global Client Services. We are also in the process of integrating the IRIS Options Market Making products – a Dutch company recently acquired by GL TRADE –in order to offer our customers a complete solution for all derivatives markets."