GL Trade, a provider of multi-market and multi-asset services for financial institutions, has signed 11 new order management and smart order routing systems in Europe and the US since May 2008. In each case, the clients have applied these in order to meet new technical and business needs for regional and global trading.
GL Trade said that it has developed specific advanced trading systems for both the European and US markets. In Europe, The GL Stream Smart Order Router (SOR) and associated audit suite enable full MiFID compliance and also allow brokers to maximize the competitive opportunities created by the post-MiFID market environment, according to GL Trade.
Meanwhile in the US, the capabilities of the GL Stream Order Management System have been applied to meet developing needs for consolidated trading capability across asset classes and international boundaries, as margin pressures in the US equity business drive brokers to seek wider opportunities, added GL Trade.
Charles-Henry Choel, global head of trading solutions business line at GL Trade, said: GL Trade has always focused on facilitating access to new electronic markets for our brokerage clients, so systematic connectivity in enterprise or ASP to these new pools of liquidity is very natural for us and thanks to our large client base we can benefit from regular client feedback to continuously improve our new tools such as the SOR for MiFID.