eHDF to offer managed services for UAE finance sector
New partnership with IL&FS Securities Services to provide services for brokerage companies
eHosting DataFort (eHDF) has announced a partnership with (ISSL), one of India's leading Securities Services firms, to provide managed services covering IT infrastructure, remote disaster recovery and back office operations support for financial brokerage firms in the UAE.
This partnership will allow users to choose from a wide range of solutions including primary IT infrastructure hosting, disaster recovery services and back office solutions.
An MoU was signed by Yasser Zeineldin, CEO, eHosting DataFort and Anil Somaiya, CTO, ISSL at an event that was also attended by senior member representatives of Dubai Financial Market (DFM), Dubai Gold and Commodities Exchange (DGCX), Abu Dhabi Exchange (ADX), as well as members of leading UAE financial brokerage firms.
"The UAE is a regional financial and trading hub where financial brokerages operate with critical client information that needs to be secure and always available. It is important for their clients to be able to stay connected to financial exchanges for their everyday transactions. This prompted us to develop a unique solution for disaster recovery and business continuity for the financial markets. We are extremely pleased to be working with ISSL to provide value added services to meet the unique requirements for this vertical," said, Zeineldin.
The signing included a demonstration of the disaster recovery solution on offer. The solution allows UAE's brokerage firms to host their trading platform on a secure hosted private cloud platform with a primary in-country DR failover site in eHDF's data centres in Dubai as well as secondary DR failover site. A remote DR hosting services is also available as an option, in addition to back and middle office operations support which would be provided by ISSL.
"We are very pleased at starting this relationship with eHosting DataFort. We believe that the managed services solution, as a combination of IT infrastructure and back office services, is value accretive and would lead to ease in business for brokerage firms," added Somaiya.
"We have enabled this solution in partnership with eHDF and ISSL, after considering upcoming industry requirements within UAE. The hosting & DR coupled with Service Desks are in compliance with regulatory norms, provide companies with enhanced IT Security and operating efficiencies. The solution enables new entrants to outsource IT infrastructure to secure environments, outsource back office operations and set up businesses with ease within UAE regulated exchange environments. Brokers will be able to focus on their core functions" said Sajith Kumar PK, Director & CEO, IBMC Financial Professionals Group.