EFG Hermes has partnered with Microsoft to launch its Direct Market Access (DMA) platform on Azure to support the universal’s brokerage division in ensuring swift trade executions.
The bank said its new and improved DMA platform is part of its broader strategy to foster digital transformation and modernisation through innovative technological solutions in Egypt’s financial services sector.
Cloud-based in Dubai and Western Europe, the all-new DMA platform enables the firm’s clients to capitalise on compelling trading prospects swiftly and seamlessly by streamlining the process of taking bids.
The platform is 160 times faster than EFG Hermes’ legacy DMA system and is aimed at accelerating the modernisation of the bank’s information technology infrastructure and brokerage capacities.
EFG Hermes said its users will enjoy access to algorithmic trading, an advanced trading strategy that ensures even faster speed and efficiency. Similarly, the bank’s users will now be able to execute orders for regional exchanges at a 70-80% increase in performance and less network latency.
“We are incredibly proud to be partnering with Microsoft again to launch our all-new DMA platform on the tech-led player’s cloud computing platform Azure,” Mohamed Sayed Fathy, EFG Hermes’ chief information officer said adding that the bank has seen a 45% increase in the turnover of DMA trading orders.
EFG Hermes’ DMA platform was designed with an eye for continuous integration and deployment throughout the platform’s lifecycle, enabling EFG Hermes to work faster and more efficiently.
By leveraging Azure’s expansive global reach, EFG Hermes aims to further scale the platform in the future, onboarding more users and introducing a roster of new features and services as it works to enhance the ecosystem of innovative technological solutions for Egypt’s financial service space.
