FNX Integrated
February 11, 2008
GL Trade, a Paris-based supplier of automated trading software, said that it has finished integrating FNX Solutions into its newly rebranded GL Trade Capital Markets Solutions business line, which includes the Aspen, Sierra, SierraLink, Cayman, Tradix and TXpress solutions. GL Trade in January 2007 announced its plans to buy Conshohocken, Pa.-based FNX, a supplier of over-the-counter and cross-product trading and risk management systems to banks, hedge funds and prime brokerages, and the deal was finalized in April. GL Trade said at the time that the acquisition would give it a stronger U.S. presence.
"We've realigned the management of our solution offerings to better serve the financial marketplace from trading and order management straight through to clearing and settlement," said Farid Naib, global head of the new GL Trade unit, noting its coverage of foreign exchange, fixed income and commodities trading. The company says that the unit has more than 75 clients in the U.S., Europe and Asia.
