Thomson Reuters share trading order up 115pc
Dubai, October 12, 2009
Thomson Reuters said the total number of shares routed daily via its Thomson Reuters Trading for Exchanges execution management system grew by over 115 per cent during the period from January to September 2009.
The huge growth in executed trading volume has been directly related to the growth in participants from the Middle Eastern market. This reinforces Thomson Reuters position as the leading electronic financial information and trading provider in the region, the company said in a statement.
During the same period, 13 new executing brokers were added to its Trading for Exchanges global network adding powerful momentum.
This order routing network allows financial market professionals to electronically route orders for exchange traded instruments such as equities, futures, commodities and energy derivatives to an ever growing and global community, said a top official.
Basil Moftah, managing director for Thomson Reuters in the Middle East and Africa said, "Brokers in the Middle East are putting more volumes through our Thomson Reuters Trading for Exchanges network in efforts to reduce their trading costs. We hope to build on this momentum by adding further brokers throughout the rest of the year."
"Markets across the Middle East and Africa continue to exhibit compelling growth prospects which could lead to further increases in trading volumes," he remarked.
Firms both inside and outside the region including EFG-Hermes who joined in March this year, use Thomson Reuters Trading for Exchanges to access liquidity from the largest markets in the Middle East and Africa region.
The list includes Abu Dhabi Securities Exchange (ADX), Bahrain Stock Exchange (BSE), Dubai Financial Market (DFM), Dubai Multi Commodities Centre (DMCC), Doha Securities Market (DSM), Egyptian Exchange (EGX), Johannesburg Stock Exchange (JSE), Kuwait Stock Exchange (KSE), Muscat Securities Market (MSM), Nasdaq Dubai and Tadawul Saudi Arabia.-TradeArabia News Service