| 13 Jul 2010 |
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Partnership with NCB Capital strengthens Fidessa's MENA operations
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Fidessa steps into the retail spotlight as Saudi Arabia's largest investment company adopts its sell-side trading platform
Businesswire/Me NewsWire) Fidessa group plc (LSE:FDSA) provider of award-winning trading systems, market data and global connectivity to buy-sides and sell-sides globally, today announced that NCB CapitalNCB Capital
(NCBCNCBC), the Saudi Arabian investment company and asset manager, has selected Fidessa's sell-side trading platform to support its retail and institutional client operations on the Saudi stock market, as well as its global trading activities. This move underpins Fidessa's commitment to the Middle East and, with more than one million retail customers, NCBCNCBC represents Fidessa's largest client in the region.
Rajiv Shah, Director of Enterprise Services for Fidessa in EMEA, states: 'We are delighted to expand our footprint in the region with such a leading player and pioneer in the financial markets. The structure of the MENA markets, with their vast array of high net worth, retail and institutional investors, demands a powerful and adaptable core technology architecture. Our flexible and high performance platform provides a sophisticated and robust solution that can seamlessly integrate all of NCBCNCBC's trading operations and so provide a best-of-breed service to both their retail and institutional clients."
The agreement incorporates Fidessa's world-class order management and exchange trading infrastructure as well as its global connectivity network across which NCBCNCBC will route its international order flow. Fidessa will now support NCBCNCBC's existing member trading requirements on local MENA markets as well as allowing them to trade global markets through the 530 brokers that are already a part of the Fidessa network community.
Fidessa's products serve 25,000 users across 850 clients around the world and are used by more than 85 per cent of tier-one financial institutions. 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 530
brokers across EMEA, Asia Pacific and the Americas. In 2009, Fidessa's network increased its traffic by 40 per cent and now carries executed order flow of around $640 billion each month.
-Ends-About NCB Capital
NCB CapitalNCB Capital
is the investment banking arm of National Commercial Bank, the largest bank in Saudi Arabia. Since its launch in 2007, the firm has grown a strong reputation as a leading provider of high quality services to individual, corporate and institutional clients, through wealth & asset management, brokerage and investment banking businesses.It is the largest investment bank in Saudi Arabia with over one million clients and SR54 billion ($14.4 billion) of assets under management and the Kingdom's largest Shariah-compliant fund business with a 38 percent market share through 26 mutual funds (as of June 2010). As a result, NCB CapitalNCB Capital is the world's largest Shariah-compliant asset manager. www.ncbc.com
Fidessa group is the leading supplier of multi-asset trading, portfolio analysis, decision support, compliance, market data and connectivity solutions for firms involved in trading the world's financial markets. Fidessa's products and services are built on the simple vision of making it easier to buy, sell and own financial assets of all types on a global basis.
PEDIGREE
A dynamic, growing company with a proven track record, Fidessa is recognised as the thought leader in the marketplace, with an unrivalled set of products and services which set the benchmark for this industry and, uniquely, serve both the buy-side and sell-side communities globally.
EXPERIENCED
With over 28 years' experience delivering powerful, resilient, mission-critical systems, Fidessa develops all its products itself from the ground up, investing heavily in their continual evolution. The resulting leading-edge, truly integrated solutions have established Fidessa as the industry's number one choice, and are used by over 85% of tier-one, global financial institutions.
Headquartered in London and with regional operations across Europe, North America, Asia, and the Middle East, Fidessa supports 25,000 users across 850 clients, serving a broad spectrum of customers from major investment banks and asset managers through to specialist niche brokers and hedge funds.
ESTABLISHED
Fidessa group is listed on the London Stock Exchange (symbol FDSA) and is a FTSE 250 company. Fidessa has a turnover of around £240m, has delivered 30% compound growth since its 1997 listing and now employs 1,500 people globally.www.fidessa.com
For further information, please contact:
Simon Barnby
Fidessa
Tel: +44 207 105 1250
Email: simon.barnby@fidessa.com
Alastair Turner
Ellie Bacon
Aspectus PR (PR agency)
Tel: +44 20 7182 4081
Email: fidessa@aspectuspr.com
© Press Release 2010
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