Dubai-based company strengthens reach in Middle Eastern stock market
15 July 2007
EastNets, a leading international e-payment and trading solutions provider, announces that it has recently partnered with Quod Financial, the 3rd Generation multi-asset trading and order management systems provider, to offer its clients the comprehensive retail and institutional pre-trade risk, trading and post-trade analytics and reporting solution to the fast growing capital markets participants in the MENA region.
EastNets will provide Quod Financial's full product portfolio to the region, integrating the product into the full scope of EastNets group of middle and back-office products and services. The offerings will extend to the European and US markets.
The Quod Financial services enable users to trade instrument types across all asset classes - from cash equities, futures and options, fixed income, and to foreign exchange - all on the same platform. The innovative service-driven architecture allows seamlessly incorporating, holistic Pre-trade risk management, Execution, Care and Order Management, Algorithmic trading, STP middle-office, and finally Post-trade and reporting services.
Ali Pichvai, the Managing Director of Quod Financial, said 'The MENA region has fully embraced trading as a means to develop its capital markets. The region is changing with the integration into the global markets, the rapid growth of institutional trading alongside the existing large retail trading, and the appetite of market participants for innovation. We are committed to the region, and partnering with EastNets provides the market with end-to-end front to back office solution. It also provides a local company to support the demanding and fast changing environment. We believe that this changes the current paradigm on which the current players are covering the MENA region.'
Commenting on the partnership, Hazem Mulhim, Chief Executive Officer, EastNets, said, "This is a great opportunity to diversify our product portfolio as partnering with one of the world's premier securities market providers will add a significant boost to the scope of our products. We will work closely with Quod Financial to strengthen our presence in the regional and international markets, and provide our clients with better access to the market."
Headquartered in Dubai, EastNets has been providing technologically advanced payment solutions to financial and government sectors throughout the Middle East for more than 22 years and is renowned for its PayGate and Anti-Money Laundering solutions. The company, which is a SWIFT Business Partner, is also the SWIFT Service Partner in the MENA region. SWIFT is the worldwide financial messaging network that enables messages to be securely exchanged between banks and other financial institutions.
EastNets has more than 450 clients distributed across throughout Europe, the Middle East and North Africa, and has a distinguished track record and client portfolio within a wide range of industries. In addition to its presence in the UAE, EastNets is strategically positioned in five other major markets, with offices in Jordan, Turkey, Kingdom of Saudi Arabia, Egypt, and Bahrain.
About Quod Financial:
Quod Financial is the 3rd generation multi-asset trading and order management system for sell-side and buy-side financial institutions. The Quod Financial system enables users to trade listed and structured instrument types across all asset classes - from cash equities, and futures & options to fixed income - on the same platform. Designed to help market participants respond to today's capital markets challenges of higher volumes and erosion of trading margins, Quod Financial enables financial institutions to increase revenue by providing an efficient trading platform for new products, whilst reducing transaction cost.
Quod Financial's innovative approach provides customers with a client-centric, flexible and powerful solution, efficiently addressing complex multi-listed cross asset execution and routing, order management, algorithmic trading, pre-trade risk management, reporting and compliance services. Quod Financial is a proven solution, leveraging its global client base and a team, with a collected 60 years' market experience in leading European and US trading houses.
Quod Financial has offices in London, Paris, and New York. Quod Financial is a subsidiary of the NET2S Group (Euronext Paris: NTS), a public international product and consulting company.
For more information, please visit www.quodfinancial.com.