Interactive Data Seizes New Opportunities in GCC

Exchanges in the GCC will benefit from Interactive Data’s new content service. The global provider of managed ultra-low latency IT and market data feed services has announced the availability of enhanced content for the Middle East and North Africa (MENA) region via its Consolidated Feed. Major exchanges in the region have seen record trading as volatile markets have been pushing volumes and trading activity.

Interactive Data provides connectivity to several global exchanges, on the back of continued investment to deliver enhanced regional content the market data provider has extended tis coverage to include new venues in the wider region, including; Abu Dhabi, Bahrain, Dubai, Dubai Commodities Exchange, Dubai Mercantile Exchange, Kuwait, NASDAQ Dubai and Qatar.

Speaking about the new product, Rob Lane, General Manager Real-Time Feeds and 7ticks, EMEA at Interactive Data said in a statement: “The recent MSCI index upgrades firmly establish this region on the map for emerging market investors. As a result, a growing number of international investors will require high quality, cross-asset data for the various markets in the region,” said Rob Lane, General Manager Real-Time Feeds and 7ticks, EMEA at Interactive Data. “Asia-, Europe- and US-based firms will also require reliable connectivity to these markets in the most cost-effective way. Through our on-going investment, we can provide a broad range of content to these firms looking to access the MENA region and efficiently deliver it to them through the 7ticks network.”

Under Interactive Data’s 7ticks network, users have access to a wide range of sources. The sources in the Consolidated Feed cover more than 150 exchanges, 110 contributors of OTC data and include Multi-Asset class instrument coverage and extensive Level 2 data. The feed is used by financial institutions globally to power algorithmic and electronic trading applications, and is now supported by ticker plants located throughout North America, Europe and Asia. The 7ticks network also provides direct connectivity to more than 50 global futures and options, equities and FX exchanges and trading venues for multi-asset class and ultra-low latency trading.

The GCC was boosted by the recent upgrade of UAE and Qatar to "emerging market" status by the MSCI after six years of efforts. The region at large has benefited from prolonged growth and development, in particular, the UAE has been on the receiving end of inflows from the troubled Arab spring region. A spokesperson for the MSCI commented about the upgrade, they stated: "International institutional investors recognised the improvements made by the Emirati regulator (Securities and Commodities Authority), the Dubai Financial Market and the Abu Dhabi Securities Exchange ."