GL TRADE is opening an office in Taipei to support its 15 customers in Taiwan, where sales have increased by 284% in the first quarter of this year. The office will open in July 2005 in the financial district of Hsin Yi near Taipei 101.
Theo Ng will run the Taipei Office, having worked for GL TRADE Hong Kong for the last four years. He has an extensive technical expertise. “We see in Taiwan a strong potential for future development especially for TAIFEX since the opening of the e-Taiwan contract in Singapore which will offer new possibilities of Arbitrage between the two exchanges,” says Franck Peltier, Managing Director of GL TRADE Hong Kong. “Overseas trading is also increasing as local FCMs extend their product range for their institutional and retail investors. To offer a higher level of service, a physical on-site support became necessary.”
A number of securities firms and FCMs have chosen GL TRADE as their trading system to receive orders on TSEC and TAIFEX; send orders on CME, eCBOT, TOCOM, SGX DT, OSE FO and local markets. In Taiwan, GL TRADE’s technology enables trading on TSEC (direct connectivity or via KWAY or SYSTEX) and TAIFEX via FIX.