G-Trade Services Ltd. is a wholly owned subsidiary of Global Execution Technologies Limited (Bermuda) and both companies are an affiliate of CLSA, Global Emerging Markets.
G-Trade is the result of a joint venture between Bloomberg Tradebook and CLSA.The new firm brings together CLSA's global execution services expertise in trading and settlement with Bloomberg's rapidly expanding electronic communications network.
In making the announcement, BSX COO Greg Wojciechowski stated, "The Bermuda Stock Exchange is delighted to welcome G-Trade Services Ltd. as our newest Broker/Dealer Trading Member. It is envisioned that G-Trade will seek to use the BSX crossing/printing facility to provide transparency for its wholesale business (basket and portfolio transactions)."
Mr. Wojciechowski went on to state, "The BSX crossing product continues to grow and attract attention from key players in the global securities industry. The admission of G-Trade further strengthens our position in this transaction processing area."
According to Craig S. Lax, G-Trade's Chief Operating Officer, "membership on the BSX is a key component in our strategy to provide access to non traditional liquidity for global equity markets. The BSX is a leader among electronic exchanges and we hope to work closely with their strong management team to enhance our position as the global leader in wholesale execution services."
G-Trade Services Ltd. is the Exchange's eighteenth Trading Member. In addition to their trading privileges G-Trade may also sponsor all forms of application to list on the BSX.