SunGard has joined the Dubai Financial Market (DFM) Vendor Registration Program, which regulates the provision of order management systems (OMS) and online trading solutions to DFM-licensed brokerage firms. The new registration service for technology vendors is designed to improve the quality of the market connectivity solutions offered to brokers and their investor clients.
The service is aimed at further enhancing excellence in information technology in line with the Dubai Smart City initiative announced by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE vice president, prime minister and ruler of Dubai. The Dubai Smart City initiative is a new project to turn Dubai into a “Smart City” and features six key pillars and 100 initiatives on transport, communications, infrastructure, electricity, economic services and urban planning.
SunGard already offers access to a number of stock exchanges in the Middle East, covering multiple asset classes and delivering advanced trading functionalities together with integrated market data feeds. The independent software vendor (ISV) partnership with DFM will enable SunGard to offer its customers a single, integrated platform, while directly participating in the exchange environment as a stakeholder.
“Utilizing our Vendor Registration Program, SunGard can benefit from a number of features reserved for our direct partners, from testing facilities to technical support, early notification of system changes, as well as advice on how to conform to DFM operating rules. Other benefits include greater visibility for vendors in the marketplace and enhanced trust from brokers in vendors who have satisfied DFM’s criteria for joining the service”, Hassan Abdulrahman Al Serkal, executive vice president, chief operations officer, head of operation division, DFM.
“We see increasing interest in the Middle East from our global customer base, and our rapidly expanding local presence has already allowed us to better serve both local and regional capital markets players. Working closely with the DFM will help us to further improve our offering in Dubai. We now offer enhanced access to all active UAE electronic trading stock markets, regardless of asset classes, through a single screen, further complementing our existing Middle East connectivity coverage”, Philippe Carré, global head of connectivity, SunGard’s capital markets business.