GL Trade, a financial technology solutions provider, has implemented its GL Net connectivity hub in Mexico City to support low-latency access to Mexico’s two main exchanges, the Bolsa Mexicana de Valores (BMV) and the Mercado Mexicano de Derivados (MexDer).
The new GL Net hub will enable international investors to send electronic orders to Mexican brokers at a lower cost, according to GL Trade. In addition, Mexican financial institutions will have access to GL Net’s community of more than 300 brokers, providing direct market access to 140 markets. GL Net is the firm’s low latency market data and order routing network. Its deployment in Mexico City its first in Latin-America and the thirtieth such connection worldwide.
A growing number of international investors, notably from the US and Spain, already access MexDer – the derivatives exchange – and BMV – the equities exchange – via local brokers. GL Trade hopes to follow its Mexico connection with a hub in São Paulo, Brazil, where it has set up a local office to respond to the increasing demand for equities and derivatives.
“The global reach of GL Trade will bring immense value to our Latin American clients,” said Gerard Varjacques, CEO of GL Trade Americas. “Our comprehensive suite of products provides local and international connectivity. This allows us to develop a strong business in Latin America based on partnerships with exchanges and local firms.”
“We see increasing interest in emerging markets from our clients globally, especially with the acceleration of the growth of electronic trading worldwide,” added Philippe Carré, global head of client connectivity.