RIYADH, 31 March 2004 — Just about everything on the local stock market from share prices to volume of trade to market capitalization will be available on the spot by a simple mouse click. The announcement was made at a press conference last week to launch Mubasher, a new product developed by the National Technology Group (NTG) Saudi Arabia for providing information dissemination services about the Saudi stock market. For the first time in the Kingdom, investors will be able to keep up with Saudi stock information as it happens from the comfort of their homes or offices.
NTG has signed an agreement with Tadawul, a department of Saudi Arabian Monetary Agency responsible for the day-to-day operation and regulation of the Saudi stock market, for the receipt of real-time Saudi stock data input. Abdulla Al-Suweilmy, general manager of Tadawul, said “This partnership with NTG is part of our strategy of promoting access to Saudi stock market information. The objective is to make real-time market date accessible to different user segments via multiple channels.”
Mohammed Rashid Al-Balla, chairman of NTG, said “Mubasher is a world-class product that is the result of extensive research, years of software development efforts and huge investments in infrastructure.
Mubasher empowers investors with information and tools that help them track trends and make time-critical decision.”
Al-Balla explained the features of Mubasher:
1) subscribers can view information on their computer screens, updating real-time prices, time and sales, corporate actions, news, charts, market depth, alerts, portfolio, top gainers, losers and much more in Arabic and English,
2) Mubasher’s extensive personalization capabilities allow subscribers the freedom and flexibility to view the information they want as they want it.
Al-Balla pointed out that Mubasher has been widely accepted in the Kingdom with 9 out of 10 banks using the service either in-house or sponsoring it for clients and that the user base had grown to 2,000 as of last month.
