| 14 Oct 2010 |
|
Oula Wasata Enhances its Services with Online Brokerage Technology
- Text size
Compatible with OMX/NASDAQ that will be deployed by Kuwait Stock ExchangeKuwait Stock Exchange
Kuwait City, Kuwait, 14 October 2010: First Securities Brokerage Company (Oula Wasata), today announced that it has signed an agreement with Khorafi Business Machines (KBM), the Kuwait operation of Gulf Business Machines (GBM), to deploy an On-line Brokerage solution.
As part of the agreement, KBM and its Italian Business partner, ETA Sistemi, will implement a sophisticated software package that will support the Kuwait Stock ExchangeKuwait Stock Exchange (KSE) OMX/NASDAQ with a Financial Interface Exchange (FIX) connection. This deployment will allow Oula Wasata to take full advantage of the latest on-line brokerage functionality and web-based technology, enabling it to become one of the leading brokerage service providers in Kuwait.
"As on-line trading and brokerage are already driving significant changes in Kuwait's financial sector, this project will mark an exciting stage in our trading strategy and we look forward to deploying this new project by the end of this year as our business in Kuwait and the GCC grows," said Ahmed Al-Sumait, Trading Manger at Oula Wasatat. "Our decision to partner with KBM and ETA Sistemi was based on their combined ability to provide us with a highly flexible and fully-scalable solution. Upgrading our current IT environment will strengthen our competitive position and allow us to maximize our customer satisfaction levels."
He added, "As one of the most progressive financial institutions in Kuwait, Oula Wasata is known for its forward-thinking vision, technology innovation and operational efficiency. This new system will support the company's goal of transforming itself into a truly trading-centric organization and achieving its mission to become one of the most competitive brokerage companies in Kuwait."
"With the deployment of the On-Line Brokerage solution, KBM and Oula Wasata will mark an important milestone in the financial sector in Kuwait and the GCC," Wolfgang Schwarzwimmer, Country General Manager - Khorafi Business Machines, Kuwait. "At KBM, we are committed to working closely with our partners to provide cutting edge and state-of-the-art solutions designed to meet the customer's needs. Our pool of knowledgeable engineers has also proven to be a big draw to customers who are looking for access to world class expertise and counsel before, during and after the implementation of a project."
-Ends-
About First Securities Brokerage Company (Oula Wasata )
First Securities Brokerage Company S.A.K is one of the first companies in Kuwait to be granted a license to practice brokerage operations in the Kuwait Stock ExchangeKuwait Stock Exchange. It was founded on the 19 of October 1985 with a paid-up capital of KD 500,000 and was increased to KD 3,000,000 and the company is continuing its successes in providing new ways in brokerage operations.
About Khorafi Business Machines (KBM)
Khorafi Business Machines is part of Gulf Business Machines group who is one of the largest IT solutions and service providers of its kind, satisfying the technology requirements of local, regional businesses and governments in Kuwait and GCC. GBM offers an extensive range of IT infrastructure, IT solutions and services ranging from consulting, resource deployment and integration to after-sales support, through 1000 professional and over 20 solid strategic partnerships forged with internationally-recognized IT solution providers. The company's comprehensive value offerings include state of the art solutions and services for the Banking & Financial Sector and are complemented by a unique affiliation with the IBM community of hundred thousands IT experts.
About ETA Sistemi & GBS
A leading Italian solution provider focusing on cutting edge software for brokerage house and On-Line Trading Front - Middle and Back office technology solution in Europe, Kuwait, GCC and Saudi-Arabia. The company deploys Brokerage and On-line Trading solution for Investment Companies and Brokerage Houses in Europe and Middle-East starting from thousand orders to millions trades daily with the same software and same mission critical trading platform.
Ahmed Al-Sumait,
Trading Manger
Phone:+965 2495 4444 Ext.: 440
aalsumait@oulawasata.com.kw
© Press Release 2010
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Post a Comment
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.