GL Trade, the French electronic trading technology group, has bought Paris-based software firm Ubitrade Group to boost its back office derivatives technology.

The move comes five months after Reuters offloaded its 34% stake in GL Trade for around €105m ($126.3m). Around a third of the stake was bought by GL Trade's other majority shareholder Euronext, the pan-European exchange.

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GL Trade buys Ubitrade for OTC push

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