Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, today announced that its Real-Time Services business now offers real-time market data from the Dubai Financial Market (DFM) and the Dubai Gold & Commodities Exchange (DGCX).
The data will be available via PlusFeedSM, Interactive Data's consolidated, high-quality, low latency digital datafeed. PlusFeed delivers low latency data on over 6 million securities from more than 450 sources around the world including multi-asset class instrument coverage and extensive Level 2 data. The feed is used by financial institutions globally to power algorithmic and electronic trading applications.
Dubai is one of the world’s fastest growing business centres and the entry point for much of the Middle East’s liquidity and trade activity. DGCX commenced trading in November 2005 as the region’s first commodity derivatives exchange and has become today the leading derivatives exchange in the Middle East growing at 26 per cent year on year. DFM, which commenced operations in March 2000, provides a market for investors to buy and sell the stocks of publicly held companies in the United Arab Emirates (UAE) and the Gulf region.
Nishat Bandali, chief marketing officer at DGCX, said: “We are very pleased to offer our data to international market participants via Interactive Data's low latency PlusFeed. The Middle Eastern markets represent one of the world’s largest areas of liquidity and this is leading to greater international demand for market data from the region.”
David Hann, general manager, EMEA, Interactive Data Real-Time Services, added: “We have a growing client base in the Middle East and continue to seek further growth in the region. We are also seeing an increasing number of requests for Middle Eastern data from our international clients and plan to add more content from local exchanges and sources. The content now offered via our low latency PlusFeed has become rich and in-depth – we are currently adding even more Level 2 data as well as a range of Asian and Eastern European sources.”