GL TRADE LAUNCHES MARKET DATA AND ORDER ROUTING HUB IN ISRAEL

Posted May 16, 2008

PARIS – Global multi-market and multi-asset solutions provider GL Trade has implemented GL NET, a new connectivity hub, in Tel Aviv, the provider’s 18^th location in the EMEA region.

“It is our ambition to continue rolling out our ‘GL NET everywhere’ strategy, supporting DMA [direct market access] execution services worldwide,” says Philippe Carré, Global Head of Client Connectivity at GL Trade. “Developing access to the Tel Aviv financial markets, and at the same time offering Israeli brokers access to our global GL NET community, are key steps in meeting client demand for expansion of their trading opportunities.”

GL NET provides low-latency market data and order routing. Its opening in the Tel Aviv market provides access to about 700 of the largest international financial institutions, as well as DMA for more than 140 equities, derivatives, commodities, fixed-income and foreign exchange markets. GL NET also gives members trading connections to more than 60 major exchanges using GL Trade’s application service provider offering.

Conversely, the new GL NET hub will enable access to Israeli financial markets for international investors. GL NET can be deployed on GL Trade workstations, third-party application or via FIX.