National Technology Group signs agreement with Saudi Fransi Capital

Press release
Published June 30th, 2011 - 12:10 GMT

Saudi Fransi Capital has signed an agreement with National Technology Group (Mubasher), to launch a new generation of multi-market, multi-channel e-trading programs and services. The agreement is in line with Saudi Fransi Capital’s strategy aimed at incorporating the most advanced technologies that provide multi-market channels for e-trading services, through mobile phones, internet, various smart devices, and electronic banking channels, thus paving the way for a new era of electronic trading for users and Saudi investors who trade on the local market (Tadawul) and also the regional and international markets.  

The agreement was signed by Abdulrahman Jawa, Deputy Managing Director and Chairman of Executive Committee of Saudi Fransi Capital and Eng. Mohamed Al Balla, Chairman of National Technology Group in the presence of Yasir Al-Rumayyan, Chief Executive Officer of Saudi Fransi Capital and Dr. Walid Al Ballaa Managing Director of Mubasher. 

The new generation of Saudi Fransi’s trading system along with Mubasher’s e-trading facility will prove path breaking by offering high quality and unique solutions which support "End to End" multi-market and multi-channel online trading, providing a host of benefits such as client market watch lists and an effective market order management system. 

Yasir Al-Rumayyan, CEO of Saudi Fransi Capital, said, “The superior platform is the essence of excellence in brokerage services that we offer. In line with the overall strategy of Saudi Fransi Capital for 2011 we are strengthening our platform in a highly focused manner, applying the excellence model, and hence selected Mubasher as a partner for this project. The new generation of Saudi Fransi Capital e-services provides effective solutions which are not confined to order/executing management systems, but also by defining and delivering the right user experience as a highly available and comprehensive technical solution. Mubasher with its relevant expertise as a stock market price and data provider and as a pioneer in providing e-trading services having first hand experience of dealing with investors, was the perfect choice for us.”

Dr. Walid Al-Balla, Managing Director of Mubasher welcomed the partnership with Saudi Fransi Capital which provides highly innovative services demanded by investors, allowing greater choice for trading and multi-channel access, giving investors the opportunity to increase their investments in local, regional and international markets. 

Mubasher has over 10 years of expertise in the financial services industry and is a fully owned subsidiary of National Technology Group (NTG) of Saudi Arabia. Mubasher provides real-time multi-channel, multi-market price dissemination, online Straight Through Processing (STP) trading, superior brokerage platform, sophisticated technical analytical tools, news, unparalleled content and other value added-services. Mubasher is truly international-yet highly focused to Tadawul - through coverage with more than 45 international and emerging markets. 

Saudi Fransi Capital is one of the largest brokers in the Saudi Stock Exchange (Tadawul) and an investment company licensed by the Capital Market Authority for providing brokerage and investment banking services including corporate finance and asset management and advisory services.

Background Information

National Technology Group

National Technology Group (NTG) was established in 1984 in Riyadh – Kingdom of Saudi Arabia and is one of the largest and fastest growing Information & communication Technology (ICT) companies with over 2 Billions SR in revenue, and +3500 employees.

NTG is made up of more than 20 specialized ICT subsidiaries in the Saudi Arabia, GCC, Egypt, Pakistan, Sri Lanka, and Turkey.

Since its inception, NTG has striven to satisfy the complete Information Technology needs of customers in the region by providing state-of-the-art products and services.

Banque Saudi Fransi

Banque Saudi Fransi (BSF) is a Saudi Arabian Joint Stock Company established by Royal Decree No. M/23 dated June 4, 1977.

The Bank is affiliated with Credit Agricole Corporate and Investment Bank that holds an equity interest of 31.1%. Credit Agricole CIB is a fully-fledged member of the Crédit Agricole Group, the second largest bank in France, and seventh amongst banks of the Euroland by total equity.

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