Tullett Prebon Information, one of the leading global suppliers of over-the-counter financial data, has signed a multi-year agreement to provide real time data for use in the risk management services function of The National Bank of Abu Dhabi ("NBAD"), the number one bank in the United Arab Emirates.
Tullett Prebon Information will supply NBAD with a range of real time money market, interest rate and foreign exchange data for both local and international markets to be used in their middle and back office risk management operations. This data will be available through Thomson Reuters Real-Time.
Tullett Prebon Information works with financial institutions and service providers, including major global and domestic banks, for the provision of independent OTC interest rate, fixed income and derivative pricing. This agreement with NBAD highlights Tullett Prebon Information's ongoing commitment to the fast growing Middle East financial markets.
Andrew Reeve, Head of Sales, Asia Pacific, Middle East & Africa at Tullett Prebon Information, said: "We are delighted to be chosen by The National Bank of Abu Dhabi to assist them in providing high quality, independent financial information into their risk management systems. Providing data to the Emirates market and further increasing our footprint in the region is a major focus for Tullett Prebon Information's business and we are currently working with a number of parties to further build on our success in the Middle East"
Commenting on the partnership, Mohammed Zidany, Head of Operational Support & Administration at NBAD's Financial Markets Division, said, "The integration of Tullett Prebon's OTC data in our middle and back office systems is a significant development in our risk management strategy. We pride ourselves on our best practice risk management structures, and the use of high quality independent data from Tullett Prebon is integral to this."