The service will allow customers to have access to the Cairo/Alexandria stock market through the internet connection provided by EFG-Hermes.
The new service provides our customers with real-time market information, enabling them to access trade execution details and to track their portfolios online without having to go through a broker, said Mamdouh El Baz, managing director, online for EFG-Hermes in the region. They will also be able to eliminate bad deliveries and counterfeit signatures.
EFG-Hermes says that trading volumes have grown tenfold since the launch of Hermes online trading in the UAE in May 2006, demonstrating the growing role of technology in brokerage and other financial services. Now EFG-Hermes customers in Egypt will have access to the trading service, which is supported by a full-fledged call center and an in-house built front-through-backend multi-currency, multi-market system.
El Baz explained that the Hermes online service allows for access to the EFG-Hermes streamer, and will allow traders in Egypt to make use of available support in Dubai, as well as the possibility to cross trade with the Dubai financial market.
