GL Trade Buys Iris as Reuters Divests Stake

VENDOR UPDATE

LONDON—GL Trade officials announced last week that they are acquiring Iris Group, a Dutch vendor of market-making solutions.

The deal, for an undisclosed amount, was motivated by GL Trade's desire to strengthen its presence in options market-making, says Philippe Carre, director of client services for GL Trade.

The strength of Iris' technology is reflected in the strength of its client base, with 15 market-making clients using the platform, says Carre. According to a prepared statement, Iris

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