Tuesday 26 March 2019

Nadim Najjar, managing director – Mena, Refinitiv

Refinitiv expands trading footprint in Middle East

RIYADH, November 7, 2018

Refinitiv (formerly Thomson Reuters Financial and Risk) has added Sunday trading capabilities to its equities trading platform and announced the adoption of REDI by Riyad Capital to enhance their trading execution capabilities in Saudi Arabia.

Redi is an award-winning execution management system (EMS) and cross-asset trading platform, offering equities, futures and options trading with over 200 brokers in more than 80 countries.

A global leader in providing financial markets data and infrastructure, Refinitiv said the Sunday trading was recently added to the system enabling clients globally to access a range of markets in Middle East and North Africa (Mena) region.

With short selling emerging across Mena markets, Redi’s advanced screening and short locate functionality offers clients the ability to effectively hedge their positions. It enables regional and global clients to trade into the Mena markets.

Clients can now optimise their execution of complex orders and monitor live profit and loss on existing position, particularly with higher commission rates and the increasing risk of managing diverse portfolios in Mena, said a statement from the organisation.

The system offers sophisticated portfolio and basket trading functionality allowing users in Mena to achieve best execution and reduce trading costs.

In addition to automating trade execution, the system seamlessly feeds trading activity to back office systems, fund administrators, and custodians, among others. Trading capabilities allow heads of Mena trading desks to evaluate the trading performance of their teams and counterparties in a quantitative manner using several benchmarks at the same time.

Nadim Najjar, managing director – Mena, Refinitiv, said: “REDI is a cost effective, compliant, and advanced solution for trade execution across all exchange-traded instruments in Mena.”

“The advanced and unique risk functionality of REDI enables clients in the region to effectively navigate trade execution by reducing trading errors,” he said.

Michael Chin, co-head, trading, Refinitiv, said: “Delivering a truly global, cross-asset trading platform requires expanding our capabilities across all regions - in both developed and emerging markets.” – TradeArabia News Service

Tags: | Middle East | trading | footprint | Refinitiv |

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