Thomson Reuters, ITWorx join forces
Cairo, April 28, 2009
Thomson Reuters has teamed up with ITWorx, one of the largest software professional services organizations in the Middle East and Africa, to bring market news and information online to financial clients in a cost effective and timely manner.
For the first time, financial professionals in the Middle East and Africa will have access to critical, real-time market information including proprietary Thomson Reuters content through portals developed by ITWorx, said a company official.
As part of the agreement, financial market professionals will have online access to business intelligence reports, market-moving developments, company fundamentals, consensus estimates, market data, real-time news and analytics.
Using Reuters Knowledge Direct, ITWorx and Thomson Reuters will provide system integration and services to bring financial and other corporate market data and news online onto ITWorx-developed portals.
As one of the largest software development firms in the region, ITWorx’s cutting edge technology and expertise will seamlessly bring Thomson Reuters financial content and data to a greater network of key customers, such as banks, advisors, and other financial institutions, across the region including Egypt, UAE, Qatar, and Saudi Arabia.
This deal represents another move by Thomson Reuters to support the growth and development of the Middle East and Africa, one of the largest and fastest growing regions in the world.
In addition, it provides Thomson Reuters the ability to respond to the needs of this growing market, made up of market professionals, businesses and government agencies, to help these individuals and companies realize their clients’ financial objectives.
Basil Moftah, managing director for Thomson Reuters in the Middle East and Africa states, "This deal puts us squarely in the midst of a vibrant market where our potential customers are looking for innovative, money-making solutions."
"Working together with ITWorx, we will be able to provide financial professionals with the actionable intelligence they need to succeed in a growing economy,” he pointed out.
Hossam Badr, Middle East regional director for ITWorx, said: “The technological needs of the MEA are great and growing. We are pleased to be sharing growth opportunities in this region with Thomson Reuters, and look forward to providing strong content and cost-effective technology to growing number of financial professionals who will benefit.”
Thomson Reuters has a long standing presence in the Middle East and Africa, having opened its first office in Alexandria in 1865.
The company provides comprehensive coverage of MEA markets including real-time information from all major equity markets, funds, indices and money markets.
Customers can access data on sukuk bonds, Islamic loans and other Islamic instruments, plus strong regional news coverage including an Arabic news service. Thomson Reuters also offers broad trading capabilities for listed instruments as well as FX and money markets.-TradeArabia News Service