Trading and back office systems vendor GL TRADE says its Tradix OTC derivatives platform is selling well, following expansion of its instrument coverage and better connectivity between its front and back office applications.
It is also selling into a sellers’ market. A recent report from Boston-based consultants Celent reckoned 35% of brokers and 85% of asset managers rank increasing levels of automation in OTC derivatives as their top priority.
The acquisition of FNX means that GL TRADE has been able to add real-time margin trading and management of proprietary positions in FX and FX OTC Options to the Tradix platform. The technology is available on an ASP basis.
“Trading on OTC products is fast growing and clients require a global solution to handle the entire life cycle of a trade,” says Natalie Samson Thévenon, Continental Europe Managing Director for Capital Market Solutions at GL TRADE.
Eric Bassot, a managing director, adds that “our new offering suits all financial companies, whether buy side or prime brokers.”