EFG Private Bank in Switzerland is now using GL TRADE’s solution GL STREAM to prepare management of stock market transactions for the back office.
Using GL STREAM’s post-execution module, EFG Private Bank is able to handle client allocation, settlement and fee calculation automatically and in real time. The system is fully operational on the Swiss equity market SWX-Virt’X, of which the bank is a member.
“Thanks to the GL STREAM platform, there are no more missing links in the chain”, commented Patrick Romanens, General Secretary of EFG Private Bank. “We are now able to supply our clients with execution confirmation including all taxes and brokerage fees within half an hour of the market close, which enhances our efficiency and flexibility. We also intend to extend this solution to other markets via GL NET, GL TRADE’s dedicated order-routing network linking 83 markets around the world.”