GEC NEWS WIRETechnology has become synonymous with the vision of the governments in the Middle East. Abu Dhabi Securities Exchange has been technologically transforming itself in alignment with the strategy of the government. Hon. Rashed al Baloushi, Chief Executive Officer, Abu Dhabi Securities Exchange spoke to Enterprise Channels MEA about the modernisation of the exchange deploying ICT.
“In the future, the investors and stakeholders will be able to go through the history of the transactions as well as the current transactions and as well as the ratios, that will enable them to make better decisions.”
HON. RASHED AL BALOUSHI, CHIEF EXECUTIVE OFFICER, ABU DHABI SECURITIES EXCHANGE
What’s your connect with the technological revolution ?
As a stock market, the accessibility to the stock market and the information therein is very important for success and improvement. As a result, we have adopted technology in a big way. We have around 46 electronic and smart services and about 38 services targeting the stakeholders.
Have you brought in new solutions and services recently ?
At GITEX 2014, we launched a new system as a part of the iPad; it’s a device that can be accessed by the investors, brokers and listed companies at the same time. The features of this system enable the investors at the end of the day to look at the full and detailed transactions of the day, the index, the sectors and they can even manage their portfolio and this is what we have achieved so far.
What are your future plans in this regard ?
When it comes to the technology, our future plan is to put the ratios which would help the investors and the brokers as well to consider their future decisions based on analysis. In other words, we would translate the financial statement plus the important ratios would be inserted into this application. In the future, the investors and stakeholders will be able to go through the history of the transactions as well as the current transactions and as well as the ratios, that will enable them to make better decisions.
We are dealing with a large amount of data, the security of which is very crucial. As a result, we have ensured that our hardware, software and the entire infrastructure is protected. We have layers of protection to make sure that the information doesn’t reach unauthorized people. We ensure that all of the features are up-to-date. We have a certificate of ISO 27009 that shows that everything has been protected.
What are your expectations ?
When it comes to expectations of the customers, definitely the market is approaching all the stakeholders and we are trying to attract all the investors and suppliers. Many more development plans are in the pipeline that will be achieved with the technology providers.
It’s been seen that some departments are developing their own patented applications and giving that to be utilized by other departments. Are you doing likewise ?
We are trying to leverage on the other entities and we are learning from them too trying to get the best practices. These other entities could be local as well as international. Our final motive is to provide the best services to our stakeholders.
