Tradeware Global Corp., the leading broker-neutral solution provider for electronic access to global equity markets, announced today that the clients of AXES LLC's GEMS (Global Execution Management System) have migrated to Tradeware's GlobalX network. GlobalX has served as GEMS' engine, and the migration of AXES clients to Tradeware was seamless. Tradeware now provides connectivity and servicing to GEMS clients.
The GEMS migration results in over 45 new executing broker clients on the GlobalX network. These broker clients can now access all other brokers on the GlobalX network, rather than intermediating their flow through AXES. AXES institutional clients have access to GlobalX through a sponsoring broker.
Tradeware's GlobalX network serves as a utility for global order flow, providing neutral electronic access to markets worldwide on an agency basis along with efficient post-trade settlement support. Member-brokers can either originate orders, or serve as a destination for order flow, which is executed through local brokers on local bourses.
Said Charles Giessen, President of Tradeware: "We believe that global order efficiency is best achieved through neutral connectivity. It is our goal to provide the underlying grid into which brokers, vendors, and other market participants can link. The migration of AXES clients into GlobalX enables them to have access to a greater number of brokers worldwide. Our platform and network is familiar to these clients and Tradeware is committed to continuing to provide them with direct access to local markets worldwide."