GL TRADE, leading provider of electronic trading solutions, and Ensemble have partnered to enable connectivity between asset managers in SA and the GL TRADE broker community. This will be accomplished through Decalog, a global trading and portfolio management system, and GL NET, GL TRADE`s network.
Ensemble is a provider of technology solutions to the financial services industry, and distributor of SUNGARD`s Decalog in SA. GL NET is a global, fast and secured dedicated network connected to all the key players in the financial markets.
Through the integrated FIX capabilities of Decalog, connection to the FIX compliant GL NET is possible, thus providing a complete straight through processing solution. "The connection to GL NET will enable asset managers to route their orders to brokers in electronic format using the FIX protocol," said Lionel Sancenot, Managing Director, GL TRADE South Africa.
"Six of the major asset management firms in SA are using Decalog and 60% of brokers are using GL TRADE products," commented Lionel Sancenot on the collaborative initiative.
As the world largest private network dedicated to electronic trading and market data information, GL NET offers a world of opportunities. For Ettie Takacs, CEO, Ensemble, "this implementation is the starting point for asset managers in SA to be connected to the financial markets community, all around the world."
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Established in June 1987, GL TRADE is a leading provider of financial data feed, trading and clearing solutions. Headquartered in Paris GL TRADE has offices in 16 countries and employs 850 people worldwide. GL TRADE has over 3 500 clients, including 500 international financial institutions. Its principal activities are in the sale and support of electronic routing systems and electronic exchange interfaces for both financial equity and derivative markets. GL TRADE operates via its proprietary trading network, GL NET, on more than 60 electronic markets around the world.
Since its creation, GL TRADE has experienced strong annual growth in revenue and profits. In 2002, GL TRADE group turnover was EUR 128.8 M a 26.3% increase over 2001. GL TRADE is listed on the "Nouveau March'e" and is part of the NextEconomy segment, as well as the IT CAC and the SBF 250 index.
ensemble
Since its founding in 1996, ensemble has continued to provide financial market participants, both locally and internationally, with customer differentiated technology systems. Ensemble`s primary focus is in the areas of investment and securities management, treasury, risk, financial management and financial market communications.
Protocol, the venture capital arm of Dimension Data, acquired a 30% shareholding in ensemble in 2002.
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