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Mubasher Signs Strategic Alliance With Kim Eng Holdings To Enable Customers To Trade In Key Markets Across Far East Asia
Published Feb 23, 2011
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Mubasher, the premier provider of e-financial solutions and a subsidiary of National Technology Group (NTG), has announced that it has appointed Kim Eng Holdings Limited, the Singapore-based leading securities and investment broker in Asia, as its executing broker in the Far East, expanding the reach of Mubasher's services beyond the MENA region and into key Far East markets.
The partnership will enable traders to conduct trade activities in MENA markets as well as in Singapore, Hong Kong, Malaysia, Indonesia, Thailand and the Philippines under a single trading platform, delivering a new layer of value-added incentives to Mubasher's clients. Mubasher further announced that the new agreement is in line with the company's ongoing expansion program to high-growth markets, catering to the evolving demands of its clients in the MENA region.
Malek Kanawati, CEO, Mubasher, said: "Mubasher constantly seeks to expand its reach and create added value to the services being offered. In this regard, our overall strategy is to capitalise on our competitive advantage in terms of technology and know-how to place the right tools and to create a conducive access point to these markets. Our tie-up with Kim Eng Holdings reaffirms Mubasher's continuing thrust to develop new and more powerful trading tools and services to help our clients optimise their investment potential."
Shafi Wahid, Head of Execution Broker Network, Mubasher, said: “The tie-up with Kim Eng Holdings Limited is the right choice for Mubasher as Kim Eng is the largest DMA provider in the Far East and we believe that our relationship creates technological synergies that ultimately benefit our clients in the MENA region. Our collaboration with Kim Eng Holdings delivers a tremendous boost to our growth plans and sends a clear message of our commitment to establish strategic alliances with quality-driven and influential partners in other regional markets."
Jeffery Sng, Head of DMA Trading, Kim Eng Holdings Limited, said: "Kim Eng will provide all necessary trading facilities and will make sure that Mubasher clients will enjoy the same level of cutting-edge services, convenience and ease as they expand their trading activities in various markets in the Far East."
About MFS:
Mubasher Financial Services (MFS), a closed joint stock company that is part of NTG and Direct Broker KSA, closed joint stock companies incorporated in Kingdom of Saudi Arabia, has been established to provide DMA in multiple markets across the Middle East to regional and international institutions.
The ‘single-counterparty’ relationship offered by MFS for trading and settlement means that trading across multiple exchanges in the region has become a reality as it eliminates the need for clients to establish multiple platforms and individual relationships. Aside from the GCC and the greater MENA region, MFS also executes for clients in major markets in Europe and USA.
MFS also offers competitive rates and a variety of dealing options, including DMA, contingency orders, algorithms & worked orders via phone. Other key services and value-added features of MFS include dealing desk to take orders over phone to work orders to benchmarks (i.e. VWAP, %VOLUME, Implementation shortfall), providing full audit trail, technical research, broker research, market colour and flow characteristics; full fundamental, historical and real-time data with leading charting and technical analysis, integrated with all major networks.
About NTG:
NTG is a group of companies specialised in the field of information and communication technology, providing specialised solutions according to the highest international quality standards.
For more information:
Orient Planet PR & Marketing Communications
P.O. Box 23345, Dubai UAE
T: +971 4 3988901
F: +971 4 3988941
E: media@orientplanet.com
W: www.orientplanet.com
Posted by
VMD - [Virtual Marketing Department]
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