GL Trade, a provider of multi-asset solutions for financial institutions, has implemented with the Australian Stock Exchange, or ASX, Derivatives market its back-office solution, GL Ubix, for Morrison Securities. This extension allows the Sydney-based brokerage house to manage all its Australian derivatives operations using one single system.
GL Trade has enhanced its GL Ubix back-office system to cover Australian Derivatives markets. It now offers full processing capabilities for clearing members of the ASX and SydneyFutures Exchange including ASX equity options, ASX CFDs and SFE futures and options. This allows GL Ubix customers to utilize one single platform to deal with Australian derivatives and to offer one single consolidated statement to their customers, said GL Trade.
Ashish Makharia, director of Morrison Securities, said: “The expansion of GL Ubix to ASXD was necessitated because of our requirements for client and internal reporting, single statement for multi-markets, on-line report storage and scalability. Working with GL Trade, we appreciated the opportunity to deal with a single company for all of our derivatives clearing, with all the commercial benefits that a single company service offers.”
Franck Peltier, CEO for Asia Pacific of GL Trade, added: “GL Trade is a major industry reference for the entire range of derivative products as demonstrated by its revenue, markets coverage, R&D resources, support centers and number of clients worldwide.”