| 12 May 2008 |
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Mubasher secures E-trade license from Emirates Securities and Commodities Authority
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First major online trading firm to obtain ESCAESCA
approval in the UAEDirect Broker for Financial Services (Mubasher), the premier provider of e-financial solutions in the region and a subsidiary of the National Technology Group (NTG)National Technology Group (NTG)
, has recently announced that it has been granted an E-trade license by Emirates Securities and Commodities Authority (ESCA)Emirates Securities and Commodities Authority (ESCA), becoming the first major firm among over 100 similar brokers to acquire such a license. The E-trade license confirms that Mubasher has met all conditions stipulated by ESCAESCA, particularly in terms of security and real-time information feed.The E-trade license has also been part of Mubasher's strategy to enhance the company's reputation as the preferred online trading platform in the region. It also provides a significant boost to Mubasher's campaign of promoting online trading and helping clients achieve greater success in their stock and financial trading activities.
"As the region's first and leading stock market information and online trading solutions provider, Mubasher has remained committed to delivering the best quality services and products to all our clients. The seal of approval as a legal entity approved by ESCAESCA validates our status as a quality-oriented organisation, and will give us greater flexibility to further improve the delivery of services to our valued customers in the UAE," said Mohammad Jamal, Sales and Marketing Manager, Mubasher.
A number of factors have been considered by ESCAESCA in granting the E-trade license to Mubasher. These include Mubasher being approved by Getronics Middle East, the leading provider of ICT services and solutions focusing on workspace management, application services and consulting & transformation services; and Mubasher's high degree of scalability to cater to the enormous number of investors.
Other key features of Mubasher are its multirouting ability, which provides multi-channel options to trade and communicate with financial markets; high availability as Mubasher provides ample back-up to all functions and facilities; high security levels that include multilayer password protection; portability through a wide range of access points such as PCs, PDAs, Mobiles and IVRs; and instant pricing feed with real-time price values.
Mubasher also enables Straight Through Processing (STP) for direct trading with source and not through middle agents; has very high standards of data security; allows multilayer authority; and provides full transparency wherein information is delivered to the traders without any form of manipulation. Additionally, Mubasher is also continuing its series of complementary workshops, providing clients free training on all Mubasher investment tools.
Mubasher is the largest online trading company in the Arab World. It was the first to introduce online stock trading in Dubai Financial Market (DFM)Dubai Financial Market (DFM)
and Abu Dhabi Securities Market (ADSM)Abu Dhabi Securities Market (ADSM). Mubasher was likewise introduced the UAE's first bilingual (Arabic and English) real-time stock market information service and online trading engine.-Ends-
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