Saudi Hollandi seals e-Tadawul trading pact
Riyadh, February 16, 2011
Saudi Hollandi, the Kingdom's first established bank, has signed a new e-Tadawul service agreement with Mubasher, a fully-owned subsidiary of National Technology Group (NTG) of Saudi Arabia.
With over 10 years of expertise in financial services industry, Mubasher provides real-time multi-channel, multi-market price dissemination, online STP trading, superior brokerage platforms, sophisticated technical analytical tools, news, unparalleled content and other value added-services.
The "Mubasher e-Tadawul total brokerage solution agreement" is part of Saudi Holland's initiative under its Al Heen program to infuse technological advances through multiple channels including mobile phones, and e-banking, said a statement from the bank.
Through execution of this strategy, the bank aims to transcend and revolutionize the user experience in the Saudi finance sector.
Mubasher has leapt past the contemporary E-Tadawul platform market by bringing innovative technology as an end-to-end solution, offering unique user experiences for online trading.
Mubasher E-Tadawul solution is a superior multi-channel offering that combines the latest front-end technology with a powerful multi-market order management system to deliver a revolutionary user experience.
"Our e-Tadawul project is part of the multi-channel platform programme, which in turn is a core part of our Al Heen strategy," explained Dr Bernd van Linder, managing director, Saudi Hollandi Bank and chairman of Saudi Hollandi Capital (SH Capital), the bank's wholly-owned investment banking subsidiary.
"Through this programme, we aim to update and innovate all our channels through 2012. As an e-trading pioneer with multiple experiences as a data vendor and a solutions provider with firsthand engagements with investors, Mubasher was our obvious choice as the partner for the e-Tadawul project," said Bernd van Linder.
Mubasher will deploy its next-generation, multi-channel desktop, internet and mobile applications to deliver superior end-to-end e-Tadawul solutions for SHC's investors, he added.
"Saudi Hollandi and Saudi Hollandi Capital are pioneers in the Kingdom and we welcomed the opportunity to forge a partnership from which we can launch new innovations together meeting the demands of investors," said Mohammad Al Ballaa, chairman, National Technology Group/Mubasher.
"The extensive reach of our trading platform and market leading e-channels, will enable SH Capital to strengthen its local, regional and international stock market appeal," he added.-TradeArabia News Service
More Finance & Capital Market Stories
- EMP expands Iraq card operations
- Dubai ICD planning to boost $2bn loan
- CEO-elect of fraud-hit Rakbank quits
- Saudi foreign assets hit record $668.2bn
- Major trade success for BBK Brokerage
- NBAD raises convertible bond issue to $465m
- Mashreq to enhance mobile banking app
- NBK Capital exits Turkey hospital chain
- Abu Dhabi holding firm Senaat plans share sale
- Iraq Trade Bank to expand into Lebanon, Turkey