GL Trade is unlikely to retain its contract to supply
Chicago Mercantile Exchange (CME)'s front end, a GL executive
admitted last week.
GL has provided the default front-end since 1998, but the
exchange put out a request for proposal inviting all
independent software vendors (ISVs) to bid for the business
(see FO Week Vol 8 No 2). GL previously told FO
Week it had responded to the RFP, and though the exchange
declined to comment, market sources said a shortlist had been
During a Futures Industry Association technology meeting in
Chicago last Wednesday, GL marketing manager Jeff Patrick
admitted that GL's default front-end deal with CME is probably
over, but chalked it up as simply a part of today's business
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