Mubasher starts online trading service
Manama, December 22, 2008
Mubasher, the premier provider of e-financial solutions and a subsidiary of National Technology Group (NTG), began trading on the Bahrain Stock Exchange (BSE) through Mubasher's portfolio of online trading services on Sunday.
The partnership with BSE is in line with Mubasher's aggressive expansion initiatives across the region's key markets, said an official.
Mubasher revealed that BSE has finalised as early as in the first half of 2008 all technical requirements that ensured a smooth integration of Mubasher's online trading services with the BSE's trading environment.
The services have already been introduced to brokerage firms, which are subsequently required to meet all the requirements set by BSE in order to be entitled to provide the online trading services to their clients.
Online trading allows investors to input their bid and offer orders into the broker’s online trading platform, which will automatically pass those orders to BSE’s trading system through the Internet without human intervention at any stage of the entire process.
Fouad Rashid, director of BSE said: 'Bahrain Stock Exchange is pleased to welcome Mubasher and we are looking forward to a successful partnership with them.'
'We are confident that brokerage firms will adopt Mubasher’s online trading solution as this represents a remarkable progress in securities trading. It also provides investors with many advantages to benefit from the available opportunities and enable them to follow up their investments on the spot,' he remarked.
Rashid M. Al Ballaa, Mubasher director said the company started providing this service following the completion of all requirements of BSE.
'Initially we will provide online trading services to institutional clients; it will then be available to all investors during the first quarter of 2009,' he explained.
'This initiative comes in line with Mubasher’s continuing efforts to provide an advanced electronic trading platform to its clients, allowing them to trade, monitor and control their portfolio as well as follow up their investments from their homes or offices.'
'It also provides our clients with tools for technical and financial analysis that will help rationalise their decisions regarding their investments based on accurate information,' he added.
In April 2008, BSE launched the online trading service to brokerage firms registered at the Exchange and licensed by the Central Bank of Bahrain (CBB).-TradeArabia News Service