GL Trade, a provider of front-to-back-office software solutions, announced Monday it had acquired American company Decision Software, a firm which provides North American financial institutions with fixed income trading platforms and connectivity to liquidity providers.
GL Trade says Decision Software will strengthen its trading offering, allowing it to create a front-to-back solution in fixed income.
"We believe that market participants will increasingly look for multi-asset capability," says Philippe Rapp, EVP strategic development, GL Trade. "Decision Software brings GL Trade the fixed income component and completes our existing equity, listed derivatives and Forex trading solutions. This acquisition will strengthen our North America business where 2008 turnover will be over $50m," he continues.
"Joining the GL Trade group will allow us to improve our international development," comments Gerald Belpaire, president, Decision Software. "With our combined strengths, we are confident we will become a competitive front-to-back solution in the European fixed income market," he adds.