Shuaa Capital, the leading financial services institution in The Cooperation Council for the Arab States of the Gulf (GCC), and Bloomberg Tradebook, Bloomberg's agency broker, today announced the launch of a direct market access (DMA) trading platform.
The new technology allows both local and international institutional investors to trade equity products on the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) in the United Arab Emirates (UAE).
The Bloomberg Tradebook-SHUAA DMA platform gives global traders direct access to UAE markets via a direct-to-exchange connection through the Bloomberg Professional service. This technology enables trade execution without calling local brokers who manually process orders.
"SHUAA Capital is a large and well respected financial institution in the Middle East and North African (MENA) region. The combination of SHUAA's local expertise and Bloomberg Tradebook's powerful tools provides real-time electronic access to these markets, more execution transparency and automated trade confirmations," said Raymond M. Tierney III, Chief Executive Officer of Bloomberg Tradebook. "In addition, SHUAA's award-winning equity research provides local market insight."
His Highness Sheikh Maktoum bin Hasher Al Maktoum, Chairman of SHUAA Capital, said, "The Bloomberg Tradebook-SHUAA platform will revolutionize the UAE brokerage industry. It will transform how investors access and trade UAE equity products. The UAE financial markets are now as accessible as those in New York, London and Hong Kong thanks to execution support from SHUAA Capital and Bloomberg Tradebook's global presence through the Bloomberg Professional service, which is used by more than 310,000 business and financial professionals."
"The collaboration between one of our leading financial institutions, SHUAA Capital, and a global leader of trading technologies, Bloomberg Tradebook, is an important step in further facilitating the accessibility of our financial markets to global institutional investors and meeting their evolving needs. This reinforces our efforts to create a favourable trading environment and contributes towards further sophistication of the UAE financial markets," said Essa Kazim, Managing Director and Chief Executive Officer of Dubai Financial Market.
The Bloomberg Tradebook-SHUAA DMA platform provides institutional investors with:
• Algorithmic trading strategies tailored to UAE equity products; • Consultative execution services that help traders navigate liquidly venues; and • Trading solutions including high-touch, low-touch, basket trading and trading analytics for enhanced execution transparency.