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GL TRADE, global provider of integrated solutions for financial institutions, working in partnership with the London Stock Exchange and its derivatives business EDX London, will hold its first joint Trading Forum in Moscow on 29 March. The Forum will give an overview of the London Stock Exchange’s International Order Book (IOB) and the newly-launched EDX Russian IOB Equity Derivatives Services.
GL TRADE will also present its dedicated offer for the Russian markets (ASP market connectivity and trading tools).
The London Stock Exchange IOB enables investors to unlock the potential of some of the world’s fastest growing markets. It offers easy and cost efficient access for traders looking to invest in fast growing economies, for example, in Central and Eastern Europe, Asia and the Middle East. The service is based on an electronic order book similar to SETS but with the added option for member firms to display their identity pre-trade by using Named Orders, offering greater visibility in the market.
EDX London Russian Equity Derivatives Service, launched in December 2006, enables equity and index derivatives based on IOB Russian Depositary Receipt instruments to be traded onexchange and cleared by LCH.Clearnet.
“We are excited to be able to participate at this event. The London Stock Exchange’s International Order Book (IOB) has seen a sharp rise in volumes with Russian Depository Receipts (DRs) dominating, accounting for 80% of the value traded. Since the launch of the Russian derivatives service, EDX London has seen over $1 billion value traded in the new derivatives, by 20 different members. A significant proportion of that interest has come from the Russian domestic market”, said Dean Noble, Head of Business Development, EDX London.
Alex Dalley, Head of Membership at the London Stock Exchange, commented: “The exceptional growth in activity in London on our International Order Book (IOB) over the last 4 years has fueled interest in taking membership of the London Stock Exchange and in direct market access options. We currently have over 120 members from 15 countries actively trading Russian DRs on our International Order Book, and in January 07 the International Order Book saw over $30 billion worth of trading. Developments in order management, handling and routing technology continue to be pivotal in lowering barriers to entry.”
« Russia is a growing market, where GL TRADE is reaping the benefits of continued local investment with a strong emphasis on local financial markets access and a large range of international services offered to the Russian broker community », comments Philippe Carré, Global Head of Client Connectivity, GL TRADE. « As a long time partner of the London Stock Exchange and of EDX, we are delighted to organize this Trading Forum in Moscow »
