Etisalat and BT (British Telecom) today announced the expansion of BT's financial services capability in the Middle East with the launch of Radianz Services in the United Arab Emirates (UAE).
The investment in this emerging financial centre has been recognized as a key strategic development for international market participants that are keen to reach new markets and to address the challenge of establishing a continuous, 24-hour global trading environment.
Working with Etisalat, BT will establish a platform that distributes services from the UAE exchanges to BT clients already connected to the Radianz Shared Market Infrastructure. The portfolio of services will provide financial institutions from around the world with connectivity to institutions and trading platforms in the Gulf region; BT's global financial community and connectivity is expected to stimulate international trading with emerging financial centres. Previously the ability to connect to this region has presented operational challenges involving complex installations and significant investment.
François Barrault, Chief Executive Officer, BT Global Services, said: "BT is very happy to have the opportunity to increase its investment in the United Arab Emirates as it demonstrates its ongoing commitment to the financial markets. The launch of Radianz Services in the UAE will act as a catalyst for future investment in the Middle East. The service capitalizes on the UAE's role as a liquidity hub for the Gulf and the increasing number of exchanges trading securities, commodities and energy products. Etisalat represents an excellent partner to introduce our Radianz Services to financial companies in the UAE."
Abdullah Hashim, Vice President Marketing - Enterprise Services, Etisalat, said: "Etisalat understands the need and value of end-to-end solutions based on well-known Industry Standards. The partnership with BT to extend Radianz Shared Market Infrastructure is yet another initiative towards this direction and reflects our commitment to satisfying the requirements of the financial community. The Radianz offering will take advantage of Etisalat's leading-edge network infrastructure and l leveraging BT's global community of financial institutions and service providers to offer international connectivity for this specialized segment in the UAE.