GL TRADE, a provider of integrated multi-market software solutions for financial institutions, has decided to offer, free of charge, market data collection services to all institutions seeking to publish prices within the framework of MiFID for the deregulation of listing and order execution for financial instruments. GL TRADE is thus positioning itself as a key player in data aggregation.
Any institution operating an internal order matching system, multilateral trading facility (MTF) or regulated market can call on the services of the software group, which will collect data and be responsible for its distribution via GL NET or other networks. This service will both enable such institutions to meet their transparency obligations and facilitate access to their liquidity, the firm says.
Aggregation of different sources of liquidity is carried out in real time, to allow the immediate distribution of full and consolidated market depth. The group will include this service in its GL WINWAY screens for buy-side users and will also make it available to the financial community in the form of real-time data feeds for all instruments with a multiple listing.
“MiFID carries a clear risk of market fragmentation,” notes Pierre Gatignol, chairman and CEO, GL TRADE. “Our mission is to make available to our clients the tools that they need to ensure that MiFID has the least possible impact on their day-to-day business, and allow them to maintain a consolidated overview of market opportunities,” he adds.
To simplify the management and use of this consolidated data flow, GL TRADE has created and will maintain a database of the instruments with multiple listings for which data is aggregated in its data feed.
As a complementary service, GL TRADE will offer a combination of the aggregated data with order execution platforms available in ASP form, giving brokers rapid connection to new liquidity pools.