GL Trade, a multi-market, multi-asset solutions provider, has signed an agreement with the Warsaw Stock Exchange that will allow GL Trade’s clients to trade on the WSE. Clients will connect to the exchange using the firm’s GL Connect ASP (application service provider) service, through which GL TRADE hosts exchange connectivity on behalf of its clients.
The WSE gateway was one of the first GL Trade developed for Central European exchanges. It already provides access to the exchanges Budapest, Prague and Vienna, and plans to deliver connectivity to Bucharest later in 2008.
GL TRADE will also be opening a GL NET Hub in Warsaw, the first one in Central Europe, the 17th in Europe and 30th worldwide.
GL Trade claims that the new Warsaw hub will allow clients to benefit from high-performance gateways and low-latency market data on Polish and international markets. The firm adds that its DMA Execution Services offering will allow Polish and Central European institutions to get access to almost 100 financial markets worldwide – across equities, commodities, derivatives,fixed income and foreign exchange – via GL NET, the company’s international market data and order routing network.
“This solution offers our clients the additional possibility of optimising their trading activities in Warsaw,” said Izabela Olszewska, director of the Business Network Development Department at WSE, in a statement. “Today the WSE has 19 foreign remote members – now we look forward to welcoming new members and new investors”.