Kuwait and Middle East Financial Investment Company (KMEFIC) has selected Quod Financial, a global provider of multi-asset adaptive trading technology, to provide a new online trading platform for retail and high-net worth individual investors in Kuwait.
KMEFIC will later expand this service to other GCC (the Gulf Cooperation Council) and Middle Eastern countries, creating one of the first regional brokers.
Quote Financial's Adaptive Online Trader (Adaptive OLT) incorporates a Rich Internet Application (RIA) built with Microsoft Silverlight. The new front end offers users access to real time streaming data and content, integration with other trading tools, and intuitive trading features. The enhanced front-end includes a high level of security, ease of deployment, is highly scalable and works with existing technology, according to Quod Financial's release. The vendor says Adaptive OLT wile enable KMEFIC to bring a "world class an innovative solution to the region.
"We have led the way in developing and applying pioneering technology to the asset management industry in the Middle East. Our partnership with Quod Financial is an extension of this and will benefit all of our retail and high "net worth individual investors," stated Abdulaziz Y Al-Babtain, head of e-business at KMEFIC. "Quod Financial was selected for its unique solution, ease of use, and flexibility. Now that we are in the delivery phase of the project, it is clear we made the right decision in selecting Quod Financial's Adaptive Online Trader," added Al-Babtain, in the release.
According to Ali Pichvai, CEO of Quod Financial, "Retail flow is a major part of trading volume in emerging markets, and creating differentiators for this segment is a key component in the long term success of sell-side institutions. "The bold initiative by (KMEFIC )to become a major regional player, using the latest technologies, places them ahead of their peers," Pichavai added in the release.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio