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NCB Capital picks Fidessa’s trading platform

Riyadh, July 13, 2010

NCB Capital (NCBC), a Saudi investment company and asset manager, has selected UK-based Fidessa’s sell-side trading platform to support its retail and institutional client operations on the Saudi stock market.

The trading platform from Fidessa group, a provider of award-winning trading systems, market data and global connectivity to buy-sides and sell-sides, will also support NCBC’s global trading activities.

This move underpins Fidessa’s commitment to the Middle East and, with more than one million retail customers, NCBC represents Fidessa’s largest client in the region, a statement said.

“We are delighted to expand our footprint in the region with such a leading player and pioneer in the financial markets,” said Rajiv Shah, director of enterprise services for Fidessa in EMEA.

“The structure of the Mena markets, with their vast array of high net worth, retail and institutional investors, demands a powerful and adaptable core technology architecture.”

“Our flexible and high performance platform provides a sophisticated and robust solution that can seamlessly integrate all of NCBC's trading operations and so provide a best-of-breed service to both their retail and institutional clients,” he added.

The agreement incorporates Fidessa’s world-class order management and exchange trading infrastructure as well as its global connectivity network across which NCBC will route its international order flow.

Fidessa will now support NCBC's existing member trading requirements on local Mena markets as well as allowing them to trade global markets through the 530 brokers that are already a part of the Fidessa network community. – TradeArabia News Service




Tags: Riyadh | NCB Capital | Trading platform | Fidessa | Sell-side |

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