GL TRADE, a trading solutions provider, has introduced a single point of connectivity to multilateral trading facility (MTF) Equiduct Trading, and has plans to link to other “significant” new European venues as they launch.
David Morgan, marketing director for trading and client connectivity, told theTRADEnews.com that GL TRADE was experiencing considerable client demand for connectivity to the four MTFs scheduled for launch in 2008. “In Equiduct’s case, there were a number of requests especially from Germany and London, and from people who are interested in the VBBO (volume weighted best bid and offer) pricing model they offer.”
Equiduct’s VBBO pricing structure gives its users a single source of access to pan-European equity price data through a real-time data feed.
In addition to Equiduct, GL TRADE already provides connectivity to Chi-X, the MTF launched by agency broker Instinet in April 2007. “"I think we can say there are five venues so far that have declared significant pan-European ambitions and have the weight behind them to be taken seriously, and these are the ones we will focus on connecting to," said Morgan. "These are Chi-X, Turquoise, Equiduct, Nasdaq OMX Europe and BATS Trading."
Morgan also confirmed that GL TRADE is in the process of developing its Turquoise gateway, and expects to receive final certification of the connection within the next few weeks.