ProgressSoft’s Securities Trading E-Settlement Gateway is the company’s advanced e-trading solution. The system initially implemented an electronic platform for end-to-end trading settlement between QNB and Dlala Brokerage and Investment Holding Company. QNB gateway acts as a payment switch that conducts online routing and trading settlement of trading transactions that can automatically occur from the broker level.
Having successfully operated e-settlement gateways at Qatar National Bank (QNB) and Dlala, the project’s scope has now extended to involve The Group Securities.
Further to the functionalities proposed by the system during the first phase, the new phase involving The Group offers a number of new features. Payment instructions made by the broker’s clients such as cash payments, account transfers and SWIFT transfers to foreign and local banks can now automatically take place at the broker offices, replacing the traditional paper-based procedures.
In addition, management operations of investors are conducted in real-time at QNB and broker gateways. Moreover, payment confirmations and notifications of new deposits are sent in push mode from the bank to the broker.
This collaboration with The Group via ProgressSoft’s advanced solution comes in line with QNB’s aspiration to be the leading bank in Qatar. The electronic gateway induces a higher level of quality across QNB’s trading operations and enriches our client’s experience with exceptionally satisfying services, said Ali Ahmed Al Kuwari, general manager of operations and information technology at QNB.
