EastNets partners with Quod Financial to offer innovative multi-asset trading and order management

Dubai and London - 17 July 2007

Dubai-based company strengthens reach in Middle Eastern stock market

EastNets, a leading international e-payment and trading solutions provider, announces that it has recently partnered with Quod Financial, the 3rd Generation multi-asset trading and OMS provider, to offer its clients the comprehensive retail and institutional pre-trade risk, trading and post-trade analytics and reporting solution to the fast growing capital markets participants in the MENA region.

EastNets will provide Quod Financial’s full product portfolio to the region, integrating the product into the full scope of EastNets group of middle and back-office products and services. The offerings will extend to the European and US markets and brokers, a solution well-adapted to the current trend towards the globalization of the capital and trading markets.

The Quod Financial services enables users to trade instrument types across all asset classes – from cash equities, futures and options, fixed income, and to foreign exchange – all on the same platform. The innovative service-driven architecture allows seamlessly incorporating, holistic Pre-trade risk management, Execution, Care and Order Management, Algorithmic trading, STP middle-office, and finally Post-trade and reporting services.

Ali Pichvai, the Managing Director of Quod Financial, said ‘the MENA region has embraced fully trading as a mean to develop its capital markets. The region is changing with the integration into the global markets, the rapid growth of the institutional trading alongside the existing large retail trading, and the appetite of market participants for innovation. We are committed to the region, and partnering with EastNets provides to market participants the opportunity to have end-to-end front to back office solution. It also provides a local company to support the demanding and fast changing environment. We believe that this changes the current paradigm on which the current players are covering the MENA region.’

Commenting on the partnership, Hazem Mulhim, Chief Executive Officer, EastNets, said, “This is a great opportunity to diversify our product portfolio as partnering with one of the world’s premier securities market providers will add a significant boost to the scope of our products. We will work closely with Quod Financial to strengthen our presence in the regional and international markets, and provide our clients with better access to the market.”

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