Quod Financial’s Adaptive OLT Powers KMEFIC’s Next Generation Online Trading Platform

London, United Kingdom, March 31, 2010 --(PR.com)-- Quod Financial, a global provider of multi-asset adaptive trading technology, has been selected by Kuwait and Middle East Financial Investment Company (KMEFIC), one of the region’s leading asset managers, to provide a new online trading platform for retail and high-net worth individual investors in Kuwait.

KMEFIC will later expand this service to other GCC and Middle Eastern countries, creating one of the first regional brokers.

Quod Financial’s Adaptive Online Trader (Adaptive OLT) incorporates a Rich Internet Application (RIA) built with Microsoft Silverlight. The new front end offers users access to real time streaming data and content, integration with other trading tools, and intuitive trading features. The enhanced user experience includes a high level of security, ease of deployment, is highly scalable, and works with existing technology. Quod Financial’s Adaptive OLT will enable KMEFIC to bring a world class and innovative solution to the region, thereby providing them with a competitive advantage and the ability to set a new industry standard.

“We have led the way in developing and applying pioneering technology to the asset management industry in the Middle East. Our partnership with Quod Financial is an extension of this and will benefit all of our retail and high net worth clients,” said Abdulaziz Y Al-Babtain, Head of E-Business at KMEFIC. “Quod Financial was selected for its unique solution, ease of use, and flexibility. Now that we are in the delivery phase of the project, it is clear we made the right decision in selecting Quod Financial’s Adaptive Online Trader.”

“By selecting Quod Financial’s Adaptive Online Trader, Kuwait and Middle East Financial Investment Company has shown confidence in the ability of our technology to deliver its immediate requirements as well as support its future expansion plans in the GCC countries and Middle East” said Ali Pichvai, CEO of Quod Financial. “Retail flow is a major part of trading volume in emerging markets, and creating differentiators for this segment is a key component in the long term success of sell-side institutions. The bold initiative by Kuwait and Middle East Financial Investment Company to become a major regional player, using the latest technologies, places them ahead of their peers.”

“Quod Financial’s use of Silverlight to power Kuwait and Middle East Financial Investment Company’s new trading platform is an example of how Silverlight helps enterprises create applications that growth with their needs,” said Steve Sklepowich, director for Silverlight at Microsoft Corp. “Microsoft looks forward to seeing the creative ways companies around the world will take advantage of Silverlight to build enhanced, interactive business solutions.”

About Quod Financial

Quod Financial delivers multi-asset adaptive execution technology into the financial trading community. Existing sell-side implementations of its non-disruptive technology are testament to its responsiveness to the rapidly changing trading landscape. The ability to deliver high ROI and low TCO while retaining a passion for people is enabling institutions to leverage existing investments, enable innovation and acquire and maintain more customers. Quod Financial’s technology can be deployed on a modular basis and scale to address future needs whilst embracing an organisation’s existing infrastructure – its applications support a best approach to discrete trading environments. Quod Financial’s vision is to help drive organisations to change the way they execute trades electronically by using adaptive trading technologies across the whole trade lifecycle.

Quod Financial is headquartered in London with offices in Paris and New York.

About Kmefic

Kuwait and Middle East Financial Investment Company (KMEFIC) is a leading asset management and financial services company that aims to produce strong returns for its investors and increase shareholder value by offering innovative products and services covering the local, regional and international markets. It was founded in 1984 by the Bank of Kuwait and the Middle East along with the Public Institution for Social Security as equal shareholders. The company was listed on the Kuwait Stock Exchange in 1997 and is currently majority owned by Ahli United Bank of Bahrain. KMEFIC’s main products and services include Asset management, Brokerage, Wealth Management, Corporate Finance & Advisory and Research.

KMEFIC is headquartered in Kuwait but also holds brokerage licenses for Kuwait, UAE, Oman, Jordan and KSA.

Quod Financial
Haidee Brean