July 07, 2005 14:27 ET

GL TRADE to Provide US Domestic Fixed Income and Enhanced Equity Back Office With the Acquisition of the New York Based OASIS Inc.

PARIS -- (MARKET WIRE) -- July 7, 2005 -- GL TRADE, the international provider of electronic trading, settlement and clearing solutions today announces the acquisition of the US based Open Architecture Systems Integration Solutions Inc. (OASIS). This acquisition allows the group to complete its offer with connectivity to US clearing houses, settlement agents and to provide US regulatory reporting.

OASIS is a software and services company specializing in high performance Straight Through Processing applications and has been operating in the back office area for the last 12 years. Turnover between June 2004 and June 2005 is expected to approach $4m. OASIS exclusively US based clients include some of the most prestigious financial institutions. OASIS employs 20 people.

Through this acquisition, GL TRADE will complete its global fixed-income settlement & back office solutions. The OASIS entity will directly report to Nicolas LEVY, Head of GL TRADE's settlement and back office business line, based in London.

OASIS products, TXpress and FlashLink are state-of-the-art high-performance back office clearance and settlement systems designed to facilitate both securities and funds processing directly with the Federal Reserve Bank, in addition to securities processing with the major clearing banks, FICC and DTC among other depository institutions. TXpress, currently dedicated to Fixed Income, will be adapted to encompass US equities processing and both products will be embedded with GL TRADE Settlement & Back office solutions (GL RIMS) to provide a seamless global equities platform.

Nicolas Levy, Head of GL TRADE's settlement & back office securities business line comments: "We had already established a commercial partnership with OASIS to respond to RFPs and specific client initiatives together which had already achieved a common client deal. We foresee a need for global settlement and stock record infrastructure: Firmly established in the UK, Europe and Asia, GL RIMS now leaps toward becoming the global system our clients are expecting. I am confident that this alliance will allow us to take our business further."

Michael Caggiano, Head of OASIS, says: "GL RIMS is well known as a powerful equities and fixed income platform. This deal will enable us to upgrade our offer to cover US equities, something we have already been preparing for in recent months. Being part of a global international infrastructure and being backed with the support of the GL TRADE group makes our future extremely exciting."


GL TRADE provides the financial community with Trading & Order Management Software, Settlement, Network, Market Data and Services to cover the entire order flow from the front to the back office for the buy and sell side. Headquartered in Paris, GL TRADE has 25 offices worldwide and employs more than 1000 people. It has over 3,500 clients, including 500 international financial institutions.

GL TRADE is listed on Euronext Paris (ISIN FR 000007208) and is part of SBF 250, CAC Mid 100 and CAC Mid and Small 190. GL TRADE also joined Next economy segment. Turnover for 2004 amounted to EUR 150m.

Contact Information

  • Contacts
    Karoline Raets
    Communication Director
    +33 1 53 40 02 22

    Ludivine Danèse
    Press and Financial Communications
    +33 1 53 40 02 16

    Nicolas Lévy
    Head of Settlement & Back office
    + 44 (0)207 070 6498