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Netiks makes the coverstory

of Finance On Windows

TRADING IN THE CLOUD
Cover story of the Summer 2010 edition of Finance on Windows magazine. Click here for the full article.
The story reports on how Arab Finance Corporation is staying ahead of the game by using an online trading and order management solution from Netiks.

Established in 1974, Arab Finance Corporation (AFC) was the first financial company to be created in Lebanon. Since its inception, AFC’s mission has been to promote and develop capital markets activities in the Middle East. This has traditionally involved acting as a bridge between the Arab and international financial markets, allowing local investors, both individuals and institutions, access to international capital markets, and channelling international funds into the Middle East.

Always with an eye on the future, the company has remained ahead of the game in terms of technology and, back in 2001, it launched an online trading platform – something that was innovatory at the time. The trading platform, built by Microsoft Gold Partner Netiks, was a Web-based solution which enabled customers to log into a Web site to complete basic forms and place an order. The order was then routed to AFC and Bank of Beirut trading rooms, where a trader typed the order details into another proprietary platform, such as Reuters or Bloomberg, to complete the transaction.

“This early system was semi-manual, but it did acknowledge the growing importance of Web-based solutions,” recalls Joe Abi-Aad, general manager at Netiks. “It was our first step in facilitating online trading for our customers.”

Now, almost ten years later, the finance industry has evolved beyond belief, and the ability to trade online is fundamental to being a successful player in such a competitive market. With this in mind, it became clear that AFC needed to expand on its Web-based solution to allow it to maintain its competitive edge.

A key requirement of this solution was that it needed to provide a single, consolidated interface to trading activities in multiple security markets, such as foreign exchange, equities, and derivatives instruments.
     
 
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