âChoosing the right trading and risk management platform was crucialâ Javed Alam, Director-Head of IT at Arqaam Capital pointed out. âWe aimed for one system with straight-through-processing across front, middle and back-office,â Alam continued: âSophis provided an excellent solution to our requirements, having a comprehensive system that applies across all asset classes - equities, credit, interest rates, fixed income, FX, etc- and connects all aspects of the transaction value chain starting with the trade capture all the way through to settlements and account posting. This significantly reduces operational risk and facilitates better client servicing.â Alam added: âThe implementation was achieved in an aggressive three-month time frame â unheard of in the industry for a project of this scale â yet we managed it due to the calibre of our people, the processes that we put in place to accelerate decision making, and the partnership we fostered with Sophis.â
Sophis is a global, financial technology supplier with over 15 years of experience in supplying portfolio and risk management technologies to financial institutions. Sophis CEO, Pascal Xatart is delighted at the opportunity to partner with one of the region's most promising financial names. âWe are very pleased to have been selected by Arqaam Capital, an innovative and unique player in the Middle East," he says. "Sophis has been working in the Middle East for over two years, and with more investment pouring into the region, we believe financial institutions will rely heavily on technology to support their increasingly diverse trading strategies. Arqaam has recognized the potential of such technology earlier in the game and will reap benefits earlier as well."