Quod Financial, a global provider of multi-asset adaptive trading technology, has been selected by Kuwait and Middle East Financial Investment Company (KMEFIC), one of the region's leading asset managers, to provide a new online trading platform for retail and high-net worth individual investors in Kuwait.
KMEFIC will later expand this service to other GCC and Middle Eastern countries, creating one of the first regional brokers.
Quod Financial's Adaptive Online Trader (Adaptive OLT) incorporates a Rich Internet Application (RIA) built with Microsoft Silverlight. The new front end offers users access to real time streaming data and content, integration with other trading tools, and intuitive trading features. The enhanced user experience includes a high level of security, ease of deployment, is highly scalable, and works with existing technology. Quod Financial's Adaptive OLT will enable KMEFIC to bring a world class and innovative solution to the region, thereby providing them with a competitive advantage and the ability to set a new industry standard.
"We have led the way in developing and applying pioneering technology to the asset management industry in the Middle East. Our partnership with Quod Financial is an extension of this and will benefit all of our retail and high net worth clients," said Abdulaziz Y Al-Babtain, Head of E-Business at KMEFIC. "Quod Financial was selected for its unique solution, ease of use, and flexibility. Now that we are in the delivery phase of the project, it is clear we made the right decision in selecting Quod Financial's Adaptive Online Trader."
"By selecting Quod Financial's Adaptive Online Trader, Kuwait and Middle East Financial Investment Company has shown confidence in the ability of our technology to deliver its immediate requirements as well as support its future expansion plans in the GCC countries and Middle East" said Ali Pichvai, CEO of Quod Financial. "Retail flow is a major part of trading volume in emerging markets, and creating differentiators for this segment is a key component in the long term success of sell-side institutions. The bold initiative by Kuwait and Middle East Financial Investment Company to become a major regional player, using the latest technologies, places them ahead of their peers".
"Quod Financial's use of Silverlight to power Kuwait and Middle East Financial Investment Company's new trading platform is an example of how Silverlight helps enterprises create applications that growth with their needs," said Steve Sklepowich, director for Silverlight at Microsoft Corp. "Microsoft looks forward to seeing the creative ways companies around the world will take advantage of Silverlight to build enhanced, interactive business solutions."