Al Ramz Securities joins Fidessa's connectivity network
Abu Dhabi, 24th January 2011 - Fidessa group plc (LSE: FDSA), provider of high-performance trading, market data and global connectivity solutions for the buy-side and sell-side, has today announced that Al Ramz Securities, one of the leading brokerage houses in the United Arab Emirates, has joined Fidessa's global connectivity network. Al Ramz's electronic execution services are now available to both UAE-based market participants and international banks looking for regional expertise and brokerage services.
Headquartered in Abu Dhabi, Al Ramz Securities' leading research capabilities and in-depth knowledge of the region's markets and stocks form the basis of its brokerage and online investment services. These services are available to retail investors across the UAE through its branches in Abu Dhabi, Dubai and Al Ain, as well as to a growing institutional investor base across the region. A member of the Abu Dhabi Securities Exchange (ADX), Dubai Financial Markets (DFM) and NASDAQ Dubai, Al Ramz now provides that local understanding, combined with access to the UAE's major equity exchanges, to members of Fidessa's global FIX connectivity network. Al Ramz also offers investment services managed in accordance with Islamic law, extending the options available to network members in this rapidly growing investment sector.
Abdul Hadi Al Sadi, Chief Operating Officer for Al Ramz Securities, said: "Fidessa's connectivity network combines unrivalled international reach with proven reliability and stability. Joining the network is an important step towards achieving our broader aim to become a leading provider of a diversified range of Gulf equity products and services to the local and international trading community."
Simon McDowell, managing director for connectivity at Fidessa, commented: "We have signed a number of brokers in the UAE and wider Middle East region and continue to see increased interest in our product set as market participants look to put in place the right infrastructure to offer electronic trading services to regional and global clients. In this highly competitive market-place, the Fidessa network offers a further and important source of differentiation to Al Ramz. At the same time the network's community of connected brokers and buy-sides now gains access to the UAE's most important exchanges through one of the region's leading brokerage houses."
Fidessa's connectivity network is one of the world's largest and most diverse trading communities, linking more than 2,400 buy-side institutions to more than 550 brokers and 140-plus markets across Europe, the Middle East, Asia Pacific and the Americas. The network now carries executed order flow of around US$700 billion each month.
About Al Ramz Securities
Established as a Limited Liability Company (LLC) in 1998 and headquartered in Abu Dhabi, Al Ramz Securities, LLC (RAMZ) is one of the foremost brokerage houses in the United Arab Emirates (UAE). RAMZ is licensed by the Securities and Commodities Authority (SCA) to exchange shares and securities in the Abu Dhabi Stock Exchange (ADX) and the Dubai Financial Market (DFM). In November 2008, RAMZ became a recognised member of the Dubai Financial Services Authority enabling it to trade at the NASDAQ Dubai bourse (with the largest brokerage paid up capital of AED 125,000,000). Al Ramz Securities was also the first to be awarded a research services license in the UAE, completing the range of services provided to help support the investment decisions of its investors.
RAMZ offers a variety of financial products and services to address the changing needs of both retail and institutional clients. Ably supported by an extensive network of branches encompassing locations across all the emirates in the country, RAMZ provides extensive coverage to its customers. RAMZ continues to embark on widening its reach through the establishment of branches in other locations within the UAE and within the Middle East and North African (MENA) region.PDF (0.04 MB)