Trading platform technology vendor GL TRADE has added the Borsa Italiana cash and derivatives markets to its ASP platform following an agreement to use the Italian and International hubs of BIt Systems, the IT arm of Borsa Italiana Group.
GL TRADE will also launch a specific offering based on the GAM light service provided by Borsa Italiana for smaller institutions wanting to trade the Italian equity, fixed income and derivatives markets directly. They can connect via the Internet, a VPN or GL NET, the order routing network owned and operated by GL TRADE.
GL TRADE hosts and maintains all exchange trading and market data feed hardware and software, offering brokers immediate deployment and reducing their financial and technical overheads.
“The agreement with GL TRADE represents another important stage in the development of BIt Systems’ ASP services which are currently offered through our hubs located in Milan, Rome and London,” says Claudio Modenesi, Head of Application Services Providing for BIt Systems. “We are convinced that the combination of our companies’ mission and expertise will be able to provide the customers with an innovative, efficient and cost-effective service model”.
“The positioning of GL TRADE in Italy is strong, thanks to brokers’ confidence in the reliability of our technology and market access coverage,” adds Philippe Carré, Global Head of Client Connectivity for GL TRADE. “Twenty years of expertise on market connectivity together with our ability to provide efficient and cost effective technology has enabled our clients to fulfill successfully their trading needs at every stage of their growth.”