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GL TRADE, global provider of electronic trading, clearing and settlement solutions, announces its connectivity to the Moscow Interbank Currency Exchange (MICEX). MICEX represents Russia's biggest exchange trading foreign currencies, equities, derivatives markets and Russian Government securities, bluechips and a wide range of Russian products.
Among the eight clients GL TRADE has in Russia, one brokerage firm already trade directly on the MICEX exchange using the GL STREAMTM Front to Back Solutions trading gateway, trading workstation and risk management system. Other Russian and international brokers already have indicated an interest in becoming collecting and contributing members of MICEX.
GL TRADE provides direct MICEX access to local, remote or non-members via its dedicated order routing network GL NET. GL TRADE is the first ISV in Russia to offer local brokers access to both Russian and International markets. The company's dedicated order routing network, connects 83 financial markets worldwide and gathers a community of some 500 financial institutions.
"More and more investors are realizing the interest of trading Russian markets which are becoming increasingly global," notes Konstantin Kirsanov, Director of Aton Capital Group, a founder member of the Russian market and one of its major brokers. "Using GL TRADE's technology to access MICEX will enable our clients to trade in a great number of listed securities and more than 100 blue chips."