GL TRADE Signs Agreement With Deutsche Bank For Order Collecting Via XONTRO Through Direct Market Access Technology

GL TRADE, one of the leading providers of electronic trading, clearing and settlement solutions, provides its Direct Market Access (DMA) technology via GL NET to DEUTSCHE BANK, one of the leading international brokerage firms, to collect client orders to the XONTRO markets. Through this agreement with Deutsche Bank, GL TRADE now covers all German floor markets :Berlin- Bremen, Duesseldorf, Frankfurt, Hamburg, Hanover, Munich and Stuttgart.

Direct Market Access via GL NET, GL TRADE’s dedicated trading network, is designed for buyside firms to handle high transaction volumes. Through this network, firms may trade on markets without necessarily being members. The DMA service offers the same speed and efficiency of order execution as for members of the market. Users handle the execution risk on the orders they submit.

XONTRO is an established and professional order routing, trading and settlement system with which orders are automatically routed on the appropriate German regional Exchange. Through Deutsche Bank, participants can trade cash and warrants from all German Regional Exchanges and Europe’s largest Warrants markets EUWAX. About 500 banks and brokers are connected to XONTRO.

“GL NET offers access to more than 100 markets, cash and derivatives, worldwide and gathers a community of more than 550 international financial institutions”, comments Anne Jeanmart, GL NET Business Development Manager. “Deutsche Bank is the first fully electronic DMA collector on XONTRO from all GL NET users worldwide, making it, thus, available to both domestic and foreign participants worldwide”.