Beltone Financial Selects SunGard to support regional trading.
SunGard's Valdi order management system provides Beltone Financial with a consolidated trading platform as the basis for support of its international trading business, the company said.
According to Beltone, from a central implementation in Cairo, the firm is able to trade throughout the Middle East region via FIX protocol-based connections to executing brokers in local markets. Beltone can alert its clients as soon as each trade is executed, and has implemented fully electronic linkages from the front to the back-office. SunGard has also adapted its pre-trade risk management system to allow consolidated control of clients' DMA and care order flows.
SunGard's SGN, an order routing network that links more than 2,000 asset managers and 500 brokers on 110 global markets, will help Beltone Financial collect orders efficiently and establish new client connections quickly and easily, the company said.
Mohamed Amer, director and regional head of IT at Beltone Financial, said, "SunGard's integrated solution supports the specific requirements of the Egyptian and regional markets and covers all our front-office operations trading requirements. SunGard has helped us gain a competitive edge, particularly as electronic trading grows in the region."
Wissam Khoury, MD, SunGard Middle East, said, "Middle East economies are accelerating their growth strategies, and cross-border trading in the region is increasing. We help financial firms in the region support their regional trading businesses. Beltone Financial has selected us because we can help support its business and technical needs, and because our brand is well known by international investors interested in the Middle East."
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|Publication:||Computer News Middle East|
|Date:||Jul 25, 2011|
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