Global agency broker Bloomberg Tradebook has launched a DMA trading platform that will connect local and international institutional investors to two United Arab Emirates stock exchanges.
Developed in conjunction with SHUAA Capital, a leading financial services institution in the Gulf Cooperation Council (GCC), the new service will allow users to trade equity products directly on the Dubai Financial Market and the Abu Dhabi Securities Exchange via the Bloomberg Professional service. At present, equity trading on GCC markets often requires a degree of manual processing by local brokers.
“The combination of SHUAA’s local expertise and Bloomberg Tradebook's powerful tools provides real-time electronic access to these markets, more execution transparency and automated trade confirmations,” said Raymond M. Tierney III, CEO of Bloomberg Tradebook. “In addition, SHUAA's award-winning equity research provides local market insight.”
His Highness Sheikh Maktoum bin Hasher Al Maktoum, chairman of SHUAA Capital, said the new DMA service would “transform” investor access to UAE stocks. “The UAE financial markets are now as accessible as those in New York, London and Hong Kong thanks to execution support from SHUAA Capital and Bloomberg Tradebook’s global presence through the Bloomberg Professional service,” he said.
The Bloomberg Tradebook-SHUAA DMA platform will provide institutional investors with algorithmic trading strategies tailored to UAE equity products, but will also offer consultative execution services, high-touch trading and analytics.
Headquartered in Dubai. SHUAA Capital's product portfolio includes investment banking, asset management, brokerage, private equity, finance, and research.