The brokerage firm’s electronic execution services are now available to both UAE-based market participants and international banks looking for regional expertise and brokerage services.
Headquartered in Abu Dhabi, Al Ramz Securities provides research on the region’s markets and stocks, which is made available through brokerage and online investment servcies to retail investors across the UAE through its branches in Abu Dhabi, Dubai and Al Ain, as well as to a growing institutional investor base across the region.
A member of the Abu Dhabi Securities Exchange (ADX), Dubai Financial Markets (DFM) and NASDAQ Dubai, Al Ramz now provides access to the UAE’s major equity exchanges, to firms on Fidessa's global FIX connectivity network. Al Ramz also offers investment services managed in accordance with Islamic law, extending the options available to network members in this rapidly growing investment sector.
Abdul Hadi Al Sadi, COO for Al Ramz Securities, comments in today’s release: "Fidessa's connectivity network combines unrivalled international reach with proven reliability and stability. Joining the network is an important step towards achieving our broader aim to become a leading provider of a diversified range of Gulf equity products and services to the local and international trading community."
In the same release, Simon McDowell, managing director for connectivity at Fidessa, said the technology company has signed a number of brokers in the UAE and wider Middle East region as market participants look to put in place the right infrastructure to offer electronic trading services to regional and global clients. “In this highly competitive market-place, the Fidessa network offers a further and important source of differentiation to Al Ramz. At the same time the network’s community of connected brokers and buy-sides now gains access to the UAE’s most important exchanges through one of the region’s leading brokerage houses," states McDowell.
Fidessa operates one of the the world's largest global connectivity networks that has one of most diverse trading communities, linking more than 2,400 buy-side institutions to more than 550 brokers and 140-plus markets across Europe, the Middle East, Asia Pacific and the Americas. The network now carries executed order flow of around US$700 billion each month.