GL Trade nets Ubitrade

Trading software firm GL Trade has bought back office vendor Ubitrade in a bid to bring a multi-asset class front-to-back offering to market.

Although financial terms of the acquisition were not released, analysts estimated that based on Ubitrade's €17m 2003 turnover the deal could be worth up to €40m, though a figure of around half that was also possible.

According to GL, the...