Online trading platform sets new standards

Updated 10 March 2016
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Online trading platform sets new standards

JEDDAH: Gone are the days when investors had to make regular visits to a stock broker’s office to buy or sell stocks. Things have changed these days. Technology has brought about drastic changes in our lives. Buying or selling financial contracts is simply a click away.
Since the Internet technology on its part has revolutionized the way people trade across the globe, Daweda Exchange, the first online financial marketplace and the only platform that offers a true, exchange-like experience have expanded their services and products to the Saudi customers interested in gaining benefits from trading.
Based in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC), Daweda Exchange is committed to providing a fair and transparent trading environment, while giving the clients an opportunity to keep a complete control and to fully maximize their returns on correctly predicting the market’s movement.
To provide its clients with an optimum exchange-like trading experience, all trades are carried out on “Orderbook” that execute trades in under 4 milli seconds, which is the stock market’s standard for fast execution.
This “Orderbook” is unique tool that allows clients to view all other positions on the platform such as how many buyers and sellers are currently available before making their own informed trading decision.
In addition to this, the platform can also handle some 50,000 trades per second and provides clients with a 100 percent uptime.  
“It’s the only platform in the market that allows you to trade directly with other clients at its most simple and fair way,” said John Linder, CEO of Daweda.
“The unique and new trading method is extremely different from the other trading platforms as it allows the customers to buy and sell directly to, or from other clients, we don’t intervene in the pricing process,” said the CEO.
Moreover, besides being unique and new, Daweda is reliable and transparent and avoids any conflict between the client and the company.
“As we grow, we look to increase our services into the expanded realm of impact trading in Saudi Arabia and other GCC countries,” said Linder.
“However, with an aim to provide professional and exciting market place atmosphere and experience, we’re pleased to be the first online financial exchange platform in the country to offer the most dynamic and dependable trading opinions to the socially conscious clients.”


Saudi Aramco aims to buy controlling stake in SABIC: Sources

Updated 30 min 53 sec ago
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Saudi Aramco aims to buy controlling stake in SABIC: Sources

  • Riyadh-listed SABIC, the world’s fourth-biggest petrochemicals firm, has a market capitalization of 385.2 billion Saudi riyals
  • The potential acquisition would affect the time frame of Aramco’s planned initial public offering set for later this year

DUBAI: Saudi Aramco aims to buy a controlling stake in petrochemical maker SABIC, possibly taking the entire 70 percent stake owned by Saudi Arabia’s sovereign wealth fund, two sources familiar with the matter told Reuters.
Late last week Aramco confirmed a Reuters report that it was working on a possible purchase of a “strategic stake” in Saudi Basic Industries Corp. (SABIC) from the Public Investment Fund, the kingdom’s top sovereign wealth fund.
Aramco’s initial thinking is to buy the full stake owned by the Public Investment Fund (PIF), but if that fails to materialize Aramco could end up with a stake in SABIC of more than 50 percent, making it a majority owner, the sources said.
No final decision has been made on the size of the stake as the discussions are still at a very early stage, they added.
Aramco declined to comment. The PIF did not respond to a Reuters request for comment.
Riyadh-listed SABIC, the world’s fourth-biggest petrochemicals firm, has a market capitalization of 385.2 billion Saudi riyals ($103 billion).
The potential acquisition would affect the time frame of Aramco’s planned initial public offering set for later this year, the state oil giant’s chief executive, Amin Nasser, said in a TV interview on Friday.
Aramco plans to boost investments in refining and petrochemicals to secure new markets and sees growth in chemicals as central to its downstream strategy to cut the risk of an oil demand slowdown.
Aramco plans to raise its refining capacity to between 8 million and 10 million barrels per day, from around 5 million bpd now, and double its petrochemicals production by 2030.
Aramco, the world’s largest oil producer, pumps around 10 million bpd of crude oil.