ESC provides efficient portfolio management
Dubai, UAE 9 Sept- The formal signing today of an agreement with Orion TradeSoft, places Electronic Stock Brokerage Company (e-Stock) at the forefront of online stock trading in the UAE.
With the growing interest in securities trading, e-Stock launched its online platform for secure trading in the Dubai Financial Market (DFM) and the Abu Dhabi Securities Market (ADSM).
The technology for real-time online stock market trading and risk management, developed by Orion TradeSoft, allows clients to directly post their orders themselves. In-house clients are given a unique username and password to access their portfolio and the site is customized according to their personal preferences.
"We want to offer a reliable and efficient stock brokering service by using state-of-the-art technology covering daily trade, transaction summary, statistics, portfolio and risk management, said Mr. Hussam Al Jundi, General Manager of Electronic Stock Brokerage Company. Our trading software even allows investors to view their portfolio through their smart phones and help them make investment decisions no matter where they are," he said.
The system comes with a special feature of sending emails to clients once orders have been posted. When the transaction is completed, an SMS is then sent to confirm the execution. An invoice will be sent via email at the end of the day to confirm the day's orders.
Mr. Al Jundi said that their online trading facility provides live market activities and prices with technical analysis, price alerts and market news. "Online trading will be free of charge to existing clients and those who sign up before the end of this year," he said.
Electronic Stock Brokerage Company is currently working on having the facility accessible through wireless communications. The company also revealed that it has invested significantly to ensure that their system cannot be hacked and that transactions are kept in strictest confidence.
As part of its customer relations, a dedicated toll-free number, 800-SAHME (800-72463) has been set up whereby customer service agents answer market prices queries, take buy or sell orders and relay them to the stockbrokers and give general information to clients who call.
Future plans will see the company issuing fundamental and technical studies, weekly along with monthly market reports. Electronic Stock Brokerage Company has a client-base of over 1500 mainly retail and institutional investors - quite a feat considering the company has only been operating for six-months.
Online trading is common in most advanced markets in the world like the New York Stock Exchange, London's FTSE, Paris CAC, and Hong Kong's Hang Seng. This gives investors the ease and convenience of trade and eliminates the physical distance between clients and stockbrokers.
"We are proud to provide Electronic Stockbrokerage Company with the complete trading software to help their clients manage their investments well," said Mr. Shihab Khalil, CEO of Orion TradeSoft.
"Our system was developed with the aim of giving financial freedom to investors who are managing their own portfolio," he said.
"Electronic Stock Brokerage Company is committed to offering straightforward deals and retaining quality service for our valued clients," Mr. Al Jundi said, "which is why we also went to great lengths to secure professional and highly-reputed stock brokers from throughout the region."
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About Electronic Stockbrokerage:
Electronic Stock Brokerage Company is headquartered in Abu Dhabi but has an office at Interchange 3, Sheikh Zayed Road, Dubai. Its office in Marina Mall Extension is due to open soon.
About Orion TradeSoft:
Orion TradeSoft is headquartered in Dubai, and specializes in financial and transactional software technologies, such as Online Trading Solutions.
Orion TradeSoft is the company behind the "eBrokerage" application - TradeSoft's flagship product which addresses all important facets of transaction processing, including Straight Through Processing, Order routing, Execution and clearance, Position keeping, and back office accounting. eBrokerage utilizes Appia - the next generation FIX engine from NYFIX.
© Press Release 2006
