GL TRADE Partners with LG FUTURES for Electronic Access to KOFEX, the Korean Futures Exchange.

Business Editors

PARIS--(BUSINESS WIRE)--July 7, 2003

GL TRADE today announces it has teamed up with LG FUTURES to enable clients to trade on KOFEX, the Korean Futures Exchange, through GL NET. In addition to The Tokyo Stock Exchange, TIFFE, Osaka, KOSPI, HKFE, SGX-DT and SFE, KOFEX is the 8th derivatives market across Asia to be powered by GL NET.

Created in 1999 and fully electronic, KOFEX is fast becoming a major exchange in Asia with an average of 50,000 contracts traded daily. The major products traded are; Korean Treasury Bond Futures, KOSDAQ 50 Futures and USD Futures. While KOFEX's membership is dominated by local brokers, there has been a gradual increase over the last two years from overseas investors. Statistics show that they are now participating in 10% of the transactions.

In light of this increasing demand, GL TRADE and LG FUTURES initiated a technology project whereby overseas clients can execute trades being processed by LG FUTURES through the GL NET network, Overseas clients can now trade either via an Internet platform, a GL TRADE terminal running on a leased line or an API.

"GL TRADE has always been an active player in the Korean market due to the high volumes traded on the KOSPI market. A network Hub was opened in Seoul, serviced by powerful lines across the Pacific. KOFEX was the next natural move because of growing interest from overseas investors. We are delighted to introduce this new market through our partnership with LG FUTURES, a well established and major player on KOFEX," says Jean-Pierre Baron, managing director of GL TRADE in Asia.

"Electronic trading is not new to LG FUTURES because we are experienced in serving online retail investors. Yet demand has increased from our overseas clients to execute electronically, hence our partnership with GL TRADE to deploy an efficient model. We expect more volume from this new trading route which is powered by GL TRADE technology and serviced by a professional team," says Bok-Jo Sohn, CEO of LG FUTURES.

About GL TRADE

Established in June 1987, GL TRADE is a leading provider of financial data feed, trading and clearing solutions. Headquartered in Paris GL TRADE has offices in 16 countries and employs 850 people worldwide. GL TRADE has over 3,500 clients, including 500 international financial institutions.

Its principal activities are in the sale and support of electronic routing systems and electronic exchange interfaces for both financial equity and derivative markets. GL TRADE operates via its proprietary trading network, GL NET, on more than 60 electronic markets around the world.

Since its creation, GL TRADE has experienced strong annual growth in revenue and profits. In 2002, GL TRADE group turnover was EUR 128.8 M a 26.3% increase over 2001.

GL TRADE is listed on the "Nouveau Marche" and is part of the NextEconomy segment, as well as the IT CAC and the SBF 250 index.

Code Euroclear : 7208 Code Reuters = GLTD.LN Code Bloomberg = GLTR

About LG FUTURES

Established in 1992, LG FUTURES has today over 1.000 individual and institutional on-line retail accounts and had about 10% market share of the average 50.000 lots traded daily on KOFEX in 2002. An estimated 80% of those trades are agency trading, which is LG FUTURES' main business.

The company employs more than 70 staff including some foreign nationals to serve the needs of their overseas customers. Their English speaking desk provides market commentary reports twice a day as well as translations of relevant monthly reports and news.

LG FUTURES also operates an overseas Futures Team trading on markets such as the LME and CBOT.

REUTERS : GLTD.LN
BLOOMBERG : GLTR
SICOVAM : 7208
Isin : FR0000072084