2007 prospects

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An ever richer and more competitive Sell Side range

GL TRADE is the only supplier that can provide a full and integrated solution from Front Office to Back Office. Our expertise through the full life cycle of an order and our early development of specifically tailored tools will enable us to take advantages of the opportunities created by MiFID from 2007. We will also redouble our efforts to build on the footholds we have established through successful trials in the American OMS market, whilst at the same time capitalizing on the expertise gained from the acquisition of Nyfix Overseas.

We will begin the project of integrating products from our latest acquisition, FNX Solutions, and seek to exploit their synergy with TRADIX to offer a complete solution for capital markets and risk management applications.

Buy Side tools gaining recognition in the market

Identified as a strategic market for expansion, the Buy Side client base is becoming increasingly important in financial markets. This trend is bringing with it greater demand for automated trading systems, particularly those which can handle algorithmic trading. Naturally we plan to build on the successful launch at the end of 2006 of our new Execution Management System (EMS). This new system meets the needs for connectivity and trading tools for Buy Side clients and was developed by our Sell Side trading experts. In 2007 we plan to put in place dedicated technical and commercial resources in all regions covered by the group to make the most of market opportunities.

Our dedicated trading solutions, coupled with our expertise in connectivity, particularly through GL NET, have established GL TRADE as a supplier of global, integrated solutions. Our positioning in this area could be further strengthened by an acquisition that brings additional dedicated order management or Middle Office tools or an already well-established client base.

Seizing new opportunities and consolidating existing positions in Europe

Eastern Europe and Asia remain strong sources of new growth, as demonstrated by the results already achieved in these regions. We will continue to pursue growth actively in these regions, seizing market opportunities as they arise, as, for example, in India, where we have been present since January.

In Europe, where the market is now mature, we will consolidate our positions building on our product lines and paying particular attention to the London market, where we will endeavor to win market share and capture major accounts.

GL TRADE will also continue to expand in the USA, notably through an ASP offering designed to replace the screens currently used by traders on the Chicago Mercantile Exchange (CME) which are set to become obsolete following the CME’s merger with the Chicago Board of Trade (CBOT).

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