Online trading expands across UAE after launch of Abu Dhabi system

Abu Dhabi: Online stock trading is poised for further growth in the country after Mubasher expanded its operations to Abu Dhabi.

Following a successful launch in Dubai last year. Mubasher, a UAE-based real-time stock market information service and online trading engine, launched its online trading system to cover the Abu Dhabi Securities Market (ADSM) yesterday.

"A large number of investors are trading online since we launched the service at Dubai Financial Market in June last year and we expect many more to subscribe to our online service," said Rashid M. Al-Ballaa, Business Development Manager for the National Technology Group, the parent company of Mubasher.

He said investor interest has never been so high in stocks as it is now and with the thousands of transactions daily, online trading serves as an efficient system.

Analytical tools

"Mubasher trade is an advanced trading engine that combines straight-through processing (STP) with real time prices and advanced charting and analytical tools to empower sound investment and allow investors to conduct remote transactions in financial markets," he said, adding that there was no need for intermediaries or brokers.

Mubasher's trading process is facilitated on top of 'Mubasher Pro' market information service that provides investors with Arabic and English stock market information in the UAE.

"We also provide a news service feed from over 70 sources in the region."

Over 140,000 Saudi subscribers rely on this information, he said.

Rashid Al Balooshi, Acting Director-General of ADSM said investors touched 750,000 at ADSM last month and included those from the GCC, other Arab countries and those further afield.

"Online trading will help in overcoming the difficulties and complexity currently faced by investors without the need to contact brokers."