GL Trade to snap up Iris

Paris-based electronic trading technology provider GL Trade has reached agreement to buy Dutch company Iris Group, a firm specialising in options pricing tools.

Iris has 15 clients and had a turnover of €1.3 million in 2003. Its margins are in line with those of the acquirer, GL Trade said. All Iris staff will join GL Trade’s office in Amsterdam once the deal is finalised. GL Trade currently has 16 employees in Amsterdam, adding 12 from Iris’s office.

The move comes six months after GL Trade's acquisition of Misys’ trading business.

“Iris’ derivatives products, which have so far been limited to the local Dutch market, will now benefit from the full range of market access and the international sales force offered by the GL Trade Group,” said Vincent Burzynski, GL Trade’s product director.

The deal is expected to be finalised by July 1.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here