DirectFN, a provider of comprehensive brokerage solutions for the Middle East and South Asia, has announced that it has received certification for its latest Order Management System (OMS) for FIX Order Routing and Feed Processing from the Qatar Exchange via its Nyse Euronext platform and also migrated clients to the Kuwait Stock Exchange's new Nasdaq OMX X-stream Platform.
The Financial Information eXchange (FIX) Protocol is the global financial services sector's industry-driven messaging standard. Around 75 per cent of buy-side and 80 per cent of sell-side firms are believed to use FIX for electronic trading .
FIX Order Routing is a fully-managed service that provides buy-side traders with seamless connectivity to a global network of counterparties. DirectFN now supports the complete functionality offered by the Qatar Exchange trading engine and FIX gateway. Further, the company has now migrated clients to the FIX Order Routing and Feed Processing to Kuwait Stock Exchange's (KSE) new NASDAQ OMX X-stream platform deployed in May 2012. DirectFN has successfully integrated the new Kuwait Stock Exchange NASDAQ OMX price feed into their unified data format data feed for their regional and global clients, and now offers the additional KSE 15 index.
"As the leading MENA provider of OMS technology and market data feeds and screens we continue to work closely with regional exchanges to promote their new initiatives and provide world-class, cost effective services and applications to the financial community. Qatar and Kuwait are some of the top markets in the region which we intend to build more advanced offerings for, as their respective financial sectors move towards greater maturity," said David Hann - Head of Sales, Technology and Market Data, DirectFN.
DirectFN specializes in a broad range of solutions including desktop information workstations, transaction systems and order management systems, and total end-to-end solutions. DirectFN™ products are branded as "Mubasher" in Saudi Arabia, and are deployed in some of the largest financial institutions across the Emerging and Frontier markets. DirectFN, a subsidiary of National Technology Group (NTG), is also a provider of exchange information to institutions via direct feeds or its DirectFN workstation, which includes reference data, charting tools and other content required by both the professional and retail investment community in the Middle East and global investment community. Available in multiple languages, DirectFN solutions are powered by industry standard, cutting-edge technology that combines timely and accurate data and order management with the highest quality of service.
NTG is a group of companies specialised in the field of information and communication technology, providing specialised solutions according to the highest international quality standards.