Financial software provider GL Trade has agreed to provide the Tel-Aviv Stock Exchange (TASE) with an ASP infrastructure connecting TASE members to the majority of financial marketplaces worldwide. The agreement is effective from April 2008. The infrastructure will also enable the members to receive and execute orders from any country on the exchange.
As well as benefiting the TASE, GL Trade believes the agreement will also offer investment opportunities to members of GL Net, its community of more than 650 brokers, and their clients. It points out that the TASE plays a key role in Israel’s financial markets, with more than 650 listed companies and an average daily trading volume of $500 million in the equities market and $1 billion in the fixed income market.
“Since its creation, GL TRADE has focused on enabling the members of its community to connect to new pools of liquidity and expanded trading opportunities,” says Laurent Breboin, managing director of GL TRADE Paris Continental Europe. “The project undertaken with the Tel-Aviv Stock Exchange is a perfect example.”