GL TRADE says that The Bank of East Asia (BEA), the largest independent local bank in Hong Kong, has bought its options trading station, GL RUBYX.
The bank will use the system to manage market making on 10 equity options listed on the Hong Kong Futures Exchange (HKFE).
GL RUBYX aims to meet the specific needs of traders, hedgers and market makers by automating trading and quoting on a number of option classes simultaneously on multiple exchanges.
BEA will use GL RUBYX to provide automatic answers to quote requests and automatic hedging of positions.
GL RUBYX complies with the exchange requirement to provide complete statistics in real-time of quotes.
"In selecting a new options trading system we needed to find the right balance of functionality, performance and platform reliability," says Clarence Yeung, BEA's Head of Structured Products Department. "With GL RUBYX and GL TRADE we found both a product which fits our needs and a partner who really understands our business."
"GL RUBYX is renowned in an environment where success demands a fast and automated trading system to get even the smallest time and price advantage," adds Lionel Sancenot, Managing Director, GL TRADE Hong Kong.