RFP News

Published on May 26, 2009

Large regional investment bank in the Middle East and North Africa, EFG-Hermes has joined Thomson Reuters` order routing network, expanding the breadth of its exchange trading offering throughout the region.

As the Arab world’s investment bank, EFG-Hermes brings a vast network and access to liquidity pools across the main markets in the Middle East, including Egypt, Saudi Arabia, Kuwait, and the UAE to Thomson Reuters global client base.

Financial market professionals using Reuters Trading for Exchanges can now route orders to EFG-Hermes for execution. EFG-Hermes builds on Thomson Reuters brokerage network and raises the number of regional brokers to 37. Any firm connected to the Thomson Reuters order routing network, both inside and outside the region, can now access liquidity from the markets in the Middle East and North Africa (MENA) region, including EGX, Tadawul, KSE, DFM, DIFX, ADX, Nasdaq Dubai, and MSM - all via EFG-Hermes.

“Joining the vast Thomson Reuters brokerage network will not just result in new trades for the firm — it will also give EFG-Hermes’ clients around the globe unrivaled access to markets within the region,” says Sherif Cararah, managing director, Securities Brokerage, EFG-Hermes. “We’re delighted to be partnering with a leading group such as Thomson Reuters and we see this as a further evidence of our long term commitment to providing value-added brokerage services.”

“Thomson Reuters is committed to supporting the expansion of the financial markets in the Middle East,” says Basil Moftah, managing director, Thomson Reuters, the Middle East and Africa. “We’re pleased to have such a prestigious and respected institution like EFG-Hermes to support this aim as well as broaden our service. Thomson Reuters plans to continue to support this growing region by adding more specialized content and additional trading capabilities.” *

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