DIRECTFN OBTAINS FIX ORDER ROUTING & FEED PROCESSING CERTIFICATION FOR QATAR EXCHANGE; MIGRATES CLIENTS TO NEW KUWAIT STOCK EXCHANGE MATCHING ENGINE
MAY 2012 | LEADING ORDER MANAGEMENT SYSTEM PROVIDER IN MENA MARKETS WORKING CLOSELY WITH REGIONAL EXCHANGES
DirectFN, a provider of comprehensive brokerage solutions for the Middle East and South Asia, has announced that it has received certification for its latest Order Management System (OMS) for FIX Order Routing and Feed Processing from the Qatar Exchange via its NYSE Euronext platform and also migrated clients to the Kuwait Stock Exchange’s new NASDAQ OMX X-stream Platform.
The Financial Information eXchange (FIX) Protocol is the global financial services sector’s industry-driven messaging standard. Around 75 per cent of buy-side and 80 per cent of sell-side firms are believed to use FIX for electronic trading.
FIX Order Routing is a fully-managed service that provides buy-side traders with seamless connectivity to a global network of counterparties. DirectFN now supports the complete functionality offered by the Qatar Exchange trading engine and FIX gateway. Further, the company has now migrated clients to the FIX Order Routing and Feed Processing to Kuwait Stock Exchange’s (KSE) new NASDAQ OMX X-stream platform deployed in May 2012. DirectFN has successfully integrated the new Kuwait Stock Exchange NASDAQ OMX price feed into their unified data format data feed for their regional and global clients, and now offers the additional KSE 15 index.
“As the leading MENA provider of OMS technology and market data feeds and screens we continue to work closely with regional exchanges to promote their new initiatives and provide world-class, cost effective services and applications to the financial community. Qatar and Kuwait are some of the top markets in the region which we intend to build more advanced offerings for, as their respective financial sectors move towards greater maturity,” said David Hann – Head of Sales, Technology and Market Data, DirectFN.
DirectFN specializes in a broad range of solutions including desktop information workstations, transaction systems and order management systems, and total end-to-end solutions. DirectFN™ products are branded as "Mubasher" in Saudi Arabia, and are deployed in some of the largest financial institutions across the Emerging and Frontier markets. DirectFN, a subsidiary of National Technology Group (NTG), is also a provider of exchange information to institutions via direct feeds or its DirectFN workstation, which includes reference data, charting tools and other content required by both the professional and retail investment community in the Middle East and global investment community. Available in multiple languages, DirectFN solutions are powered by industry standard, cutting-edge technology that combines timely and accurate data and order management with the highest quality of service.
NTG is a group of companies specialised in the field of information and communication technology, providing specialised solutions according to the highest international quality standards.
DIRECTFN APPOINTS DAVID HANN AS HEAD OF SALES FOR MARKET DATA
NOVEMBER 2010 | PROVEN INDUSTRY SALES VETERAN WILL DRIVE GROWTH PLANS ACROSS LOCAL AND INTERNATIONAL MARKETS
DUBAI, NOVEMBER 2010, Leading Middle East and North Africa (MENA) market data and data display provider, DirectFN, has appointed David Hann as Head of Sales for Market Data with responsibility for driving sales of its suite of institutional investment products and data services. Hann is charged with recruiting and spearheading a sales team that will increase DirectFN’s presence in the MENA territories and expand its customer and geographical coverage to the global market place. He is also tasked with ensuring associated support and training services meet and exceed customer expectation. Hann’s appointment is the latest of several high-profile hires that DirectFN has made over the past year, thus demonstrating its commitment and confidence in the potential of its product portfolio.
David Hann has an impressive track record which spans over 20 years of sales and business development achievements won in financial markets throughout the UK, Asia and the US. His previous appointment was as Managing Director for Sales across Europe, Middle East and Africa (EMEA) with ACTIV Financial Systems, Inc, a leading provider of market data content and technologies. He has held senior sales positions with a raft of blue chip institutions, including Interactive Data Europe, Moneyline Telerate, and Tullett and Tokyo London. Hann holds a Bachelor of Science degree in Finance and Management from La Roche College, Pittsburgh, USA.
“I’m delighted that a candidate of David’s calibre has decided to join us at DirectFN – this is in itself is an accolade to the company, its products and business potential”, said Kevin Swann, DirectFN’s Head of Market Data. “We are confident that his drive to deliver, his expert knowledge of financial markets and understanding of customers’ data and trading needs will mean excellent results for the company - and its client base.”
“MENA investment returns are forecasted, in the coming years, to outperform returns from developed countries” comments David Hann “The need for high quality and reliable local market data will be imperative to financial institutions throughout the world. DirectFN is the leader in this field and I am excited to be part of the team!”
DirectFN Pro is the only data display available in both English and Arabic; and it is already an important platform in trading rooms throughout MENA Furthermore, the company’s local presence and expertise ensure a low cost of data ownership – the benefits of which are deployed to a growing international client base.
As international demand for emerging market data accelerates, the company is positioning itself as a leading provider of market data and feed products from the Middle East, Africa and Asia to the global market place. DirectFN has enjoyed a fruitful first year with several large contracts currently nearing completion.
DirectFN Targets MidEast Institutional Data
May 10th 2010 | ORGANIZATION AND STRATEGY | Vol 25 No 32
Dubai-based data provider DirectFN is targeting institutional investors and trading firms with a new desktop data display and data feeds, in a bid to expand its client base both within and beyond the region.
DirectFN-which shares the same parent company and Sri Lanka-based IT development center as regional vendor and brokerage Mubasher-hired former Tradeweb market data director and Bloomberg veteran Kevin Swann earlier this year to lead its international expansion plans, and to guide the vendor's strategy to target the institutional investment market with a new set of data products.
"Mubasher is an extremely well-known brand over here, and we provide most of the desktop services to retail users across the region, but going forward we are moving into the institutional space with our DirectFN product line," Swann says.
The DirectFN Pro desktop terminal, which entered beta testing with clients at the end of last year, provides real-time content on 600,000 instruments globally, which the vendor either sources directly from exchanges in the Middle East or via a third-party redistribution agreement with Interactive Data for exchanges outside the region and for other OTC contributed data such as FX rates, says Swann, who adds that the vendor plans to continue broadening its content coverage.
"The desktop features are phenomenal, but we now plan to strengthen our coverage of international stock markets, along with other asset classes such as interbank borrowing rates and currencies," he says.
The terminal also incorporates an advanced charting application that offers more than 60 pre-configured technical indicators and allows users to create their own indicators, annotate trend lines and benchmark securities against each other.
In tandem with the development of DirectFN Pro, the vendor also launched a feed in March of consolidated, normalized real-time market data from Middle Eastern and North African exchanges-including the local Dubai Financial Market, Dubai Gold and Commodities Exchange and Nasdaq Dubai exchanges, along with other stock exchanges in Abu Dhabi, Amman, Bahrain, Egypt, Karachi, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia and Tunisia-via the vendor's proprietary format.
"We were taking the feeds in for our desktops, so it was a natural extension to provide open access to that data as a feed product, allowing our customers to integrate the data into other proprietary and third-party applications for portfolio and risk management," Swann says.
He says the vendor has already installed both its new terminal and feed products at two unnamed Saudi Arabian bank clients in March, and expects international demand for data from DirectFN to grow as investors' risk appetites recover along with the global economy.
"We have mainly seen regional demand for our data products so far, but I think international demand for Middle Eastern market data will pick up as investors look for emerging market investments that can provide higher returns," he adds.
Mubasher wins “Best Online Trading Platform” at Banker Middle East Product Awards 2010
April 20th 2010 | BEIRUT
Mubasher won the “Best Online Trading Platform” at the recently concluded Banker Middle East Product Awards 2010.
The Banker Middle East Product Awards recognized banking products and services within the Arab region that are either exceptionally innovative or have generated excellent financial results and/or transference of market share, particularly during times of economic hardship.
The award ceremony took place in Dubai on 20 April 2010. This is a prestigious annual award from the reputed Bankers in the Middle East. The award was based on online voting from a variety of prestigious financial industry professionals across the Middle East.
Netiks will be Mubasher’s distributor for Lebanon and Syria
March 25th 2010 | BEIRUT
DirectFN Ltd, popularly known as “Mubasher”, and Netiks International sal have entered into a Distribution Agreement whereby Netiks will be Mubasher’s distributor for Lebanon and Syria. Under this agreement, Netiks will promote and support Market Information Screens and Market Information Feeds as well as a complete range of Capital Market software products developed by DirectFN™. "This arrangement will enable us to broaden and value-add our offering to our clients” said Mr. Joe Abi-Aad, General Manager, Netiks. Mr. Manjula Jayasinghe, Senior Executive, DirectFN Ltd. said “We are excited about entering into this agreement. Netiks has strong presence in Lebanon and Syria which will give us an opportunity to take the market leading screens and the brokerage technology to investors and brokers in these countries.”
DirectFN™, a wholly owned subsidiary of National Technology Group (NTG) - one of the largest ICT companies in the Middle East, specializes in providing solutions ranging from desktop information workstations, transaction systems and order management systems through to total end to end solutions. DirectFN™ products, branded as “Mubasher”, are deployed in some of the largest financial institutions across the Middle East and South Asia. DirectFN™ is also a provider of exchange information to institutions via direct feeds or its DirectFN™ workstation, which includes reference data, charting tools and other content required by both the professional and retail investment community in the Middle East and global investment community.
DirectFN™ Investor Products offer a comprehensive solution that provides the financial community with a single platform to view real-time prices and related information for multiple asset classes. The solution covers a broad range of markets from US to Europe, Middle East, Africa and Asia with the ability to focus on the different dynamics of local markets.
DirectFN™ Technology Solutions offer next generation order management and Straight Through Processing (STP) technology to buy/sell side financial institutions.
DirectFN™ solutions are powered by industry standard cutting edge technology that combines timely and accurate data and order management with the highest quality of service.
Netiks is a leading Lebanese e-business company specialized in the development of On-line trading, Internet banking and CRM solutions.
Netiks has successfully developed Risk Monitoring Systems for trading desks, Online Trading platforms, as well as Content Managed websites publishing stock market prices and dynamic market news.
The Netiks internet banking suite has been adopted by major Lebanese banks; it provides Retail and Corporate features, including Fund Transfers, Corporate multiple signature and delegation management, SMS notifications, secure communication with the bank and online loyalty account management. The Netiks Internet banking suite is integrated with a robust CRM and call-center information system enabling the branches to have a 360° view of the customers, thanks to advanced data mining and customer segmentation techniques.
Netiks provides quality e-business solutions thanks to a Quality Management system based on ISO standards developed in collaboration with consultants from the European Union.
Netiks is a Gold Certified Microsoft partner.
Netiks is based in Lebanon and is also active in Syria and France.
For more information:
For more information on Press Releases or to contact our Media Relations Representative please write to email@example.com