Exchanges brought together at show

Amanah XData, a financial technology solutions provider, is building a network to connect all stock exchanges in the Gulf to a central hub.

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By  Administrator Published  October 22, 2008

Amanah XData is inviting all financial institutions to discover how its XConnect solutions can link them to financial exchanges in the Gulf at GITEX Technology Week this year.

The financial technology solutions provider is in the process of building a network connecting all the exchanges in the Gulf to a central hub in Dubai. "We started this process in late 2007 and have already connected the exchanges of the UAE, Saudi Arabi and Bahrain. We are hoping to have Kuwait, Qatar and Oman set up by the end of 2008," says Jad Al-Fares, account manager at the firm.

XData aims to provide a plug-and-play service, with which its users can just connect to its central network. The solution not only offers exchange connectivity but also gives users direct market data and information.

In addition it offers a number of managed services, built on top of the basic solution.

Al-Farha admits that there has been some difficulty in setting up the solution with the challenges being mainly around getting things done at speed. However, he is confident that now that things are in motion connections will take place at pace.

This is XData's third visit to GITEX, and Al-Farha states that the IT exhibition is still of real importance.

"We get great feedback from the show and we definitely feel like we are reaching the right target market. GITEX is a very important part of our overall strategy," says Al-Farha.

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