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EFG Private Bank Has Chosen The GL STREAM<SUP>™</SUP> Front To Back Solution To Automate Its Post-Execution Operations

Date 05/08/2004

EFG Private Bank in Switzerland is now using GL TRADE’s solution GL STREAMTM to prepare management of stock market transactions for the back office. The system is fully operational on SWX-Virt’X, the Swiss equity market of which the bank is a member. 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.

“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.”

“With the support of our GL NET network, the GL STREAM solution is perfectly suited to the needs of Swiss private banks and brokerages, and EFG Private Bank is a prime example. Thanks to our unique platform for seamlessly managing client orders and market operations, an area where automation provides transparency and efficiency, we offer a solution to financial institutions keen to apply the best execution practices for their clients” added Guillaume Schabanel, Director of GL TRADE Switzerland (SA).