Scotia Inverlat chooses GL Trade for derivatives trading and clearing
GL Trade, a global provider of front-to-back office software solutions for international financial institutions, has signed contracts with Scotia Inverlat Derivados, S.A de C.V, a subsidiary of Scotia Capital, for a derivatives trading and clearing solution.
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Having already selected its offering of direct connectivity with the Mexican derivatives market (MexDer), Scotia Inverlat has once again demonstrated its confidence in GL Trade. Scotia Inverlat trades on MexDer via GL Trade workstations. The company also distributes stations to its clients and members of MexDer.
Some fifteen different stations will be implemented by the end of the year. To provide its international clientele with transaction execution and clearing services, Scotia Inverlat has selected the back-office derivatives solution of GL TRADE based on ASP architecture.
Scotia Inverlat appreciates especially its variety of features, particularly its flexibility in terms of calculating commissions and fees and the extensiveness of reporting. Scotia Inverlat also opted for a Web component, which allows it to offer its clients value-added information in real time.
Vincent Burzynski, GL Trade group marketing and products director, says: "Scotia Inverlat shows a high degree of professionalism and innovation. We are proud to have been selected for this partnership. Scotia Inverlat made us a key partner in the development of its e-trading capabilities and has positioned us as a major player in the Mexican financial community."