Financial software provider GL Trade has signed an exclusive deal to distribute fellow technology firm Nexfi’s Multi Asset Portfolio Management System internationally. As part of the agreement GL Trade will also take a 30% stake in Nexfi.
GL Trade says the distribution deal will complement its existing buy side solutions, especially the GL EMS, and that it underscores its ambition to become a key partner for the buy-side internationally.
Nexfi’s customer base includes several international and French financial institutions. The firm turned over
€3.4 million in 2007, and employs 30 staff in Paris, France.
“The two companies complement each other perfectly,” says Philippe Rapp, executive vice president, strategic development and M&A, GL Trade. “Nexfi’s product suite will allow us to meet the strong demand of our buy-side clients and prospects to enrich our offering with a real PMS capacity. Furthermore, Nexfi was looking for a strong global partner to help with the international development of the company.”
Thierry Martin, sales director at Nexfi, adds,
“Through this partnership with the GL Trade Group, our product will be delivered to the international community after having been very successful in France. We strongly believe that
this partnership will offer a valuable and reliable alternative in the buy-side community and will allow both companies to develop their positioning quickly.”