To offer direct market access into GCC and extended Middle Eastern markets
Fidessa group, a London-based provider of multi-asset class trading, portfolio analysis, compliance, market data and global connectivity solutions for the buy-side and sell-side, has announced that Mubasher Financial Services (MFS), a Middle Eastern brokerage house, has joined Fidessa’s global connectivity network.
Fidessa has said that this partnership would give the 400-plus brokers and 2,300 buy-sides already on the network a direct route into any of the GCC (Gulf Cooperation Council) markets, as well as a number of other Middle Eastern exchanges.
MFS is in the position of being able to offer direct market access (DMA) into all the GCC markets, as well as Egypt, Palestine, Lebanon, and Turkey. MFS customers also benefit from local brokerage services in Jordan, Tunisia and Morocco.
Nick Wright, head of institutional brokerage at MFS, said: “Working with Fidessa, with its global reach and reputation, is an important step for us in opening up the Middle Eastern markets to the sell-side and buy-side globally and we look forward to building a strong partnership with them in the future.”
Edward Manley, regional manager for the Middle East & Africa at Fidessa, said: “For the brokers and buy-sides on Fidessa’s global network, the connection to MFS opens up a wealth of possibilities in the Middle East region. Not only does MFS act as a local routing destination with a trading desk, but its DMA connections mean that an order could go straight through to market without any delay.”