GL TRADE has sold its Direct Market Access (DMA) technology via GL NET to Wolfgang STEUBING AG, a German securities trading house, to collect orders on the Vienna Stock Exchange.
Wolfgang STEUBING AG is the first order collector on XETRA Vienna from Frankfurt. Direct Market Access via GL NET, GL TRADE’s proprietary network, is designed for buy-side firms handling high transaction volumes. Through this network they can trade on markets without necessarily being members. The service offers the same speed and efficiency of order execution as for members of the market. Users of the DMA service bear the execution risk on the orders they submit.
Wolfgang Steubing AG already trades shares and warrants listed on all German stock exchanges. Furthermore, direct trading links are set up to several European markets.