The JSE Securities Exchange South Africa (“the JSE”) and GL TRADE announced that they have signed an agreement whereby GL TRADE will provide the JSE with its professional trading front-end GL WIN for use on the JSE and the Namibian Stock Exchange. The JSE will have the exclusive marketing and license distribution rights in South Africa and Namibia for the GL WIN, SLC, SLE, Selector, ARWIN and View Only suite of GL products. The products will be implemented when the JSE implements its new trading system in May next year.
Initial revenue for GL TRADE for the five-year period is expected to be US$762 500 and possible additional annual revenues of US$850 000 depending on the take-up in South Africa.GL TRADE will also in terms of the agreement set up a local office to ensure support to the local markets.