Source: GL Trade
GL TRADE, one of the leading providers of electronic trading, clearing and settlement solutions, provides its Direct Market Access (DMA) technology via GL NET to Wolfgang STEUBING AG, a German securities trading house, to collect orders on the Vienna Stock Exchange. Wolfgang STEUBING AG is the first order collector on XETRA Vienna from Frankfurt.
Direct Market Access via GL NET, GL TRADE’s proprietary network, is designed for Buy-Siders handling high transaction volumes. Through this network they can trade on markets without necessarily being members. The service offers the same speed and efficiency of order execution as for members of the market. Users of the DMA service bear the execution risk on the orders they submit.
Wolfgang Steubing AG already trades shares and warrants listed on all German stock exchanges. Furthermore, direct trading links are set up to several European markets. The main business areas are equity trading, ledger broking, primary markets and research. Steubing AG also acts as a Designated Sponsor in the XETRA electronic trading system for small and mid cap publicly traded companies since inception in October 1998.
Vienna Stock Exchange is the only securities exchange and listing authority in Austria and offers, in addition to the traditional cash market (equity market, bond market), derivatives (otob market) and warrants markets. All trading on Vienna Stock Exchange is conducted through the fully electronic trading systems, XETRA® (cash market) and OMex® (derivatives, warrants). These systems guarantee the greatest possible transparency as well as fast and efficient execution of market transactions.
"GL NET offers access to more than 85 markets, cash and derivatives, worldwide and gathers a community of more than 550 international financial institutions," comments Anne Jeanmart, GL NET Business Development Manager. "Since Wolfgang Steubing AG is the first fully electronic DMA collector on the Vienna exchange from Frankfurt, it offers a lot of opportunities to potential contributors on this market."