Competitive positioning

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ASP: a new vector of competitiveness

GL TRADE is continuing to expand its ASP offering, and now covers nearly 30 markets using this approach. ASP gives small and medium-sized Sell Side clients and Buy Side clients quick and cost-effective access to GL TRADE’s technology; clients do not need to acquire servers or the relevant skills as GL TRADE hosts and operates the service.

The Group will continue to invest in this area to support its clients at each stage of their growth.

A highly competitive market

In equity markets our systems face competition from Orc Software, SunGard, Royal Blue and RTS, whilst our main challengers in the derivatives field are Patsystems and Trading Technologies. However, none of these groups can offer coverage of equity and derivative markets that is as extensive as ours. In electronic trading networks, our GL NET network is in competition with solutions from companies like Bloomberg and Reuters as well as systems developed in-house by financial institutions.

In the Derivatives Back Offi ce market, the acquisition of the UBIX product has turned GL TRADE into the main challenger to the market leaders, Rolfe & Nolan and SunGard.

In the capital markets field, our positioning has been strengthened by the acquisition of FNX. We frequently find ourselves in competition with groups such as Calypso and Murex.

In the Buy Side market, competition for our flagship GL WINWAY product comes mainly from the proprietary solutions offered by Prime Brokers and from Trading Screen. Companies such as Flextrade and Portware are our main challenges in algorithmic trading, sometimes known as Execution Management Systems, or EMS.

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