Trading technology vendor GL TRADE has added the Borsa Italiana markets to its pan-European ASP platform following an agreement to use the hubs of BIt Systems, the IT arm of Borsa Italiana Group.
Borsa Italiana regulates and manages the Italian equities markets, the Italian derivatives market, the securitised derivatives market, the electronic fixed income market and the electronic share market.
GL TRADE will also launch a specific offering based on the GAM light service provided by Borsa Italiana for smaller institutions wishing to take advantage of this new offering.
Brokers can access the service via the Internet, a VPN or GL NET, the order routing network owned and operated by GL TRADE.
GL TRADE says that because it hosts and maintains all exchange trading and market data feed hardware and software, brokers can use the system more or less immediately, and skip investment and maintenance costs.
“The agreement with GL TRADE represents another important stage in the development of BIt Systems’ ASP services which are currently offered through our hubs located in Milan, Rome and London”, says Claudio Modenesi, Head of Application Services Providing for BIt Systems. “We are convinced that the combination of our companies’ mission and expertise will be able to provide the customers with an innovative, efficient and cost-effective service model.”
“The positioning of GL TRADE in Italy is strong, thanks to brokers’ confidence in the reliability of our technology and market access coverage,” adds Philippe Carr, Global Head of Client Connectivity for GL TRADE. “Twenty years of expertise on market connectivity together with our ability to provide efficient and cost effective technology has enabled our clients to fulfil successfully their trading needs at every stage of their growth.”