Financial data firm Interactive Data Corporation has agreed to supply international real-time data to Mubasher, a provider of real-time market data and direct market access services across the Middle East.
Interactive Data will provide Mubasher with a range of real-time data from exchanges and trading venues across Europe (nine markets), Asia (eight) and North America (15) via its PlusFeed service, a consolidated, low-latency digital datafeed covering five million securities globally.
Mubasher provides real-time pricing, sophisticated analytical tools, news, information and DMA services for more than 30 regional and international stock exchanges. The firm expects to supply market data from 20 exchanges across the Middle East and North Africa by the end of the year. Market data clients include high net worth individuals, banks, brokers and asset managers.
A subsidiary of Saudi Arabia’s National Technology Group (NTG), Mubasher’s client base of 400,000+ investors is concentrated in the Middle East, but the firm is currently expanding into Asia and Africa.
Manjula Jayasinghe, senior executive, Mubasher, said: "We are very pleased to take in-depth international content from Interactive Data, which is known for its high quality. This international content adds to our regional content positioning us as a prominent global player."
David Hann, general manager, EMEA, Interactive Data Real-Time Services, added: "Mubasher is establishing itself as a provider of low touch DMA services to the buy-side Middle East and North Africa (MENA) community. This community has a need for a wider set of international data requirements and we are pleased that Mubasher has chosen Interactive Data to complement its own content."