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DIFX Signs Data Distribution Agreement

by Lorys Charalambous, Tax-News.com, Cyprus

07 August 2007


Amanah xData, a Canadian and Arabian Gulf technology company, has signed an agreement with the Dubai International Financial Exchange (DIFX) to distribute the exchange’s market data, including share prices.

Amanah xData will distribute DIFX market data feeds locally and globally to brokers, using its financial application infrastructure to facilitate immediate access to DIFX information.

A signing ceremony to mark the agreement was attended by senior executives of the DIFX and Amanah xData, as well as other senior business people and honorary Canadian diplomats.

Hamed Ali, Executive Officer of the DIFX, announced that: “In line with the rapid growth of the DIFX as the region’s international exchange, demand is increasing from brokers, financial institutions and e-brokerage software providers to connect to the DIFX network. The DIFX has attracted share listings from companies with roots all over the world, from Saudi Arabia to Australia and South Africa to Switzerland, and more are on the way.”

Nezar Freeny, Chief Executive and Chairman of Amanah xData, noted: “Following a similar agreement reached last month with the Toronto Stock Exchange, our agreement with the DIFX is a keystone in our strategy to connect global exchanges, offering us enormous potential leverage. We are very impressed by the professionalism and speed with which DIFX is conducting business and we look forward to working with the exchange to serve the local and international markets.”

Graham Rush, Canadian Senior Trade Commissioner to the United Arab Emirates, concluded by observing that: “This agreement is a pioneering event for Canadian financial technology companies, as Amanah xData is taking full advantage of the massive economic growth taking place in the Arabian Gulf through its link with the DIFX. It is also very impressive to see the growth of DIFX and we look forward to further cooperation between the exchange and Canadian firms.”

A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, trusts and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

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