Mubasher offers online trading service for Abu Dhabi Securities Markets
Mubasher, a subsidiary of National Technology Group (NTG) announced today (February 7th, 2006), at a joint press conference with ADSM, the expansion of their online trading system to cover the Abu Dhabi Securities Markets (ADSM) after a highly successful launch at the Dubai Financial Markets.
Mubasher Trade is an advanced trading engine that combines straight-through processing (STP) with real time prices and advanced charting and analytical tools to empower sound investment and allow investors to conduct remote transactions in financial markets. Mubasher’s Straight Through Processing allows investors to conduct direct transactions in the stock market via Mubasher Trade, without the need for intermediaries and brokers. Transactions are carried out in real-time, with average latency between transaction initiation and completion at less than a second.
Mubasher’s trading process is facilitated by the “Mubasher Pro” market information service that provides investors with bilingual (Arabic & English) real-time stock market information in the UAE. In addition, Mubasher also provides a news service feed from over 70 sources in the region. Mubasher Pro is equipped with graphical reports and advanced analytical tools that allow investors to feel the pulse of the market and make informed decisions rapidly. Apart from “Mubasher Pro”, the Mubasher Market suite includes “Mubasher Net”, the web-based information dissemination service, and “Mubasher Mobile”, which allows investors to receive updates and make transactions via their pocket PCs and mobile telephones. Over 140,000 Saudi subscribers rely on these information services to successfully ply the financial markets.
Rashid Al Balooshi, Acting Director General, ADSM, gave a speech highlighting the importance of online trading to accommodate the growing number of investors in ADSM. The number of investors reached over 750 thousand from the GCC, Arabic and foreign countries by end January 2006. He also mentioned that online trading offers a huge advancement in stock market trading by overcoming difficulties and complexities faced by investors trading traditionally.
At the press conference, Engineer Rashid Al Ballaa presented the key highlights and advantages of Mubasher Trade for regional investors.
Commenting on Mubasher’s expansion, he said, "Mubasher Trade is now in use at the Dubai Financial Market as well as the Abu Dhabi Securities Market, and allows investors to use the same integrated portfolio for both markets via the same interface. Investors can monitor trade prices, consult charts and receive news from the comfort of their homes and offices, and also easily execute secure orders in both markets as if they were one combined UAE stock market.”
Due to increasing interest in Mubasher’s offerings, Mubasher has made arrangements to welcome registrants at both the Le Meredian Hotel Abu Dhabi and Sofitel City Center Dubai, apart from its existing customer services office in the 14th floor of the Dubai World Trade Centre (DWTC). The registration process includes a basic tutorial on Mubasher’s interfaces, capabilities and features.
"Mubasher Trade’s strong portfolio of features allows for complete stock market transactions via the Internet, eliminating the hassle of physically engaging in trade from the market floor or over the phone. Mubasher’s full suite of value-adding tools such as summaries, stock tracking and analytical reports ensure that the investor is in full control of transactions and can not only better judge market conditions, but also act instantaneously in response. A key benefit of Mubasher Trade is its throughout speed." Al Ballaa added.
By expanding its portfolio to cover the ADSM, Mubasher is poised to consolidate its reputation as the leading regional e-financial solution provider. Mubasher offers high-performance, interactive digital data feeds that deliver premium real-time stock market information for investors and fund managers. Mubasher’s lack of minimum financial requirements for subscribers are an added attraction for investors looking to make a start in online trading.
Mubasher’s parent company NTG is a multi-national conglomerate group hosting over 20 specialized ICT businesses with direct and joint venture operations in the Middle East, India, Sri Lanka and USA. NTG is headquartered in the Saudi capital of Riyadh and boasts a total turnover of more than SAR 1 billion. NTG is expanding rapidly into new geographies, setting up joint ventures, incubating new ideas and launching new ICT initiatives.