Executives from concerned parties during the event
Qatar Exchange (QE), Qtel and NYSE Euronext (NYX) have concluded a major partnership agreement to enable the extension of the Secure Financial Transaction Infrastructure (SFTI) network platform to Qatar, connecting financial participants in the US and Europe to the Qatar markets.
The pioneering solution will see Qtel providing global connectivity, a complete disaster recovery solution, and premium network services to support the extension of SFTI to Qatar.
By connecting QE and its market participants to SFTI, the important emerging marketplace of Qatar will join the global trading community and liquidity pools already connected to this high performance financial network.
An unprecedented community of major US and European financial institutions including brokers, investment banks and investors are already connected to SFTI via access centres in Europe, Asia and the US, enabling them to quickly and easily access trading markets or offer their own value-added services.
The addition of Doha as a new SFTI destination completes another step in the strategic plan to transform Qatar into a centre for international finance in the Middle East.
The comprehensive solution provided by Qtel ensures that the SFTI extension is supported by the highest levels of connectivity, reliability and security.
Mr. Andre Went, Chief Executive Officer, Qatar Exchange said: “Today’s implementation is another important step towards our long-term goal of establishing Qatar Exchange as a tier-one equity market. The stability and security provided by our world-class network solution will enable the introduction of SFTI in 2011, demonstrating the benefits of the strategic partnership between Qatar Holding and NYSE Euronext.”
Eng. Khalid Abdulla Al Mansouri, Executive Director, Business Solutions, Qtel, said: “With the advanced technology solution provided by Qtel, Qatar Exchange will benefit from a robust world-class connectivity with NYSE Euronext’s global network, ensuring that Qatar increases its international profile by providing significant benefits for investors.”
Mr. Stanley Young, CEO, NYSE Technologies said: “We are delighted to add the Qatar Exchange as a trading destination on our SFTI platform. Not only does the network extension give us a strategic presence in an important region, but further develops our strategy to facilitate cross-region trading and bring financial communities together. This extension is underpinned by world-class international connections delivering the level of reliability that the financial community requires in 2011.”
Following the successful migration of QE and its market participants to NYSE Euronext's state-of-the art Universal Trading Platform in early September, 2010, connecting to the global SFTI network is the next step in the overall QE development roadmap. The SFTI network was first developed in 2002 in the US, and was subsequently extended to Europe in 2008 and Asia in 2010. The market solutions provided by NYSE Technologies will help QE to extend its international membership reach and launch new products, and underline the value of the partnership between NYSE Euronext and Qatar Holdings to develop the leading market place in the region.