Contact:
Interacciones, Mexican Broker, Joins Tradeware's GlobalX(TM) Network
Signals Increased Efficiency in Capital Flows To and From Mexico(New York: November 27, 2006) - Tradeware Global Corp., the leading broker-neutral solution provider for electronic access to 58 equity markets worldwide, today announced that it is live with Interacciones Casa de Bolsa, part of Grupo Financiero Interacciones, S.A. de C.V.
Interacciones, which provides electronic direct market access (DMA) to the Mexican Stock Exchange through FIX connectivity, has joined GlobalX, Tradeware's unique broker-to-broker network, which enables brokers worldwide - and their institutional clients - to access global markets on an Agency basis. The agreement established between Interacciones and Tradeware will further enhance bi-directional capital flow to the Mexican market.
One of the largest Mexican broker-dealers, Interacciones has provided financial advisory for individual, company, and institutional investors in capital investments in Mexican and international markets for over 15 years. The firm provides best execution in the Mexican market and is expert in trading large and mid cap stocks.
Said Cody Callihan, Tradeware's Vice President: "Tradeware welcomes its partnership with Interacciones. Interacciones provides great local market expertise and best execution capabilities that are consistent with our model of bringing the best Agency broker-dealers into the GlobalX network. Historically, many of our member brokers have been limited to purchasing Mexican ADR's that lack liquidity. GlobalX's unique settlement processing has made trading in international markets like Mexico as cost efficient as trading domestically. The relationship with Interacciones further expands the GlobalX network for the benefit of our member brokers and ultimately their institutional clients worldwide."
Said Daniel Somuano, Interacciones' Head of International Sales: "We are committed to expanding our business through leveraging FIX and the GlobalX network. Years ago Interacciones had a vision to introduce electronic trading to the Mexican market; today participation in GlobalX network is the next logical step that enables us to enhance global capital flow to and from Mexico. We are making it easier for US broker dealers to access true liquidity in Mexico. Since joining the network, we have seen an increased interest in Mexican market, both equities and derivatives, and Interacciones stands ready to provide our expertise and best execution."
Tradeware Global's electronic trading solutions connect market participants to more than 58 marketplaces in more than 40 countries around the world. The Company specializes in flexible Financial Information eXchange (FIX)-based equity order management systems, FIX connectivity solutions and full front-to-back office integration and compliance reporting services. Its open platform provides connectivity for approximately 95 percent of the buy side and all major U.S. listed and OTC marketplaces. Tradeware Global's unique cross-border trading solution, GlobalX, enables market participants to anonymously trade with counter-parties in any regulatory jurisdictions, with the same cost and efficiencies as domestic investors. Founded in 1993, Tradeware Global has offices in New York, Boston, and London.
In 1981, Corporacion Mexicana de Valores, S.A. de C.V., an institution dedicated to brokerage in the Mexican stock market, was acquired by Grupo Financiero Interacciones. In 1987, this group of shareholders, recognizing the need to conform a permanent corporation concept, decided to change the name of that corporation to Interacciones Casa de Bolsa, S.A. de C.V. Grupo Financiero Interacciones is a Financial Institution composed by a Bank (Banco Interacciones SA ), an Insurance Company (Aseguradora Interacciones SA), a Fund Management Co. (Interacciones Sociedad Operadora de Sociedades de Inversion SA de CV) and its Brokerage House (Interacciones Casa de Bolsa SA de CV).
| Previous | Next |