Thomson Reuters Expands Market-leading Online Research and Analytic Content in Middle East Through Development Deal with ITWorx
Region’s Financial Professionals to Access Actionable Business Intelligence via Reuters Knowledge Direct
Cairo – Thomson Reuters today announced that it has teamed up with one of the largest software professional services organizations in the Middle East and Africa, ITWorx to bring market news and information online to financial clients in a cost effective and timely manner. For the first time, financial professionals in the Middle East and Africa will have access to critical, real-time market information including proprietary Thomson Reuters content through portals developed by ITWorx.
As part of the agreement, financial market professionals will have online access to business intelligence reports, market-moving developments, company fundamentals, consensus estimates, market data, real-time news and analytics. Using Reuters Knowledge Direct, ITWorx and Thomson Reuters will provide system integration and services to bring financial and other corporate market data and news online onto ITWorx-developed portals. As one of the largest software development firms in the region, ITWorx’s cutting edge technology and expertise will seamlessly and efficiently bring Thomson Reuters financial content and data to a greater network of key customers, such as banks, advisors, corporations and other financial institutions, across the region including Egypt, United Arab Emirates, Qatar, and Saudi Arabia.
This deal represents another move by Thomson Reuters to support the growth and development of the Middle East and Africa, one of the largest and fastest growing regions in the world. In addition, it provides Thomson Reuters the ability to respond to the needs of this growing market, made up of market professionals, businesses and government agencies, to help these individuals and companies realize their clients’ financial objectives.
Basil Moftah, Managing Director for Thomson Reuters in the Middle East and Africa states, “This deal puts us squarely in the midst of a vibrant market where our potential customers are looking for innovative, money-making solutions. Working together with ITWorx, we will be able to provide financial professionals with the actionable intelligence they need to succeed in a growing economy.”
Hossam Badr, Middle East Regional Director for ITWorx, said: “The technological needs of the Middle East and Africa are great and growing. We are pleased to be sharing the many opportunities for growth in this region with Thomson Reuters, and look forward to providing strong content and cost-effective technology to the growing number of financial professionals who will benefit.”
Thomson Reuters has a long standing presence in the Middle East and Africa, having opened its first office in Alexandria in 1865. The company provides comprehensive coverage of MEA markets including real-time information from all major equity markets, funds, indices and money markets. Customers can access data on sukuk bonds, Islamic loans and other Islamic instruments, plus strong regional news coverage including an Arabic news service. Thomson Reuters also offers broad trading capabilities for listed instruments as well as FX and money markets.
About Reuters Knowledge Direct
Reuters Knowledge Direct is a product line which provides access to Thomson Reuters company content directly to thousands of clients via industry-tested data files (FTP), XML APIs (HTTP) and Reuters premium partner channels.
About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries. Thomson Reuters shares are listed on the New York Stock Exchange (NYSE: TRI); Toronto Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and Nasdaq (NASDAQ: TRIN). For more information, go to www.thomsonreuters.com.
ITWorx is a global software professional services organization. Headquartered in Egypt, the company offers Portals, Business Intelligence, Enterprise Application Integration, and Application Development Outsourcing services to Global 2000 companies in the finance, education, telco, government, and media sectors in North America and EMEA. ITWorx is partnered with Magic Quadrant technology vendors – Microsoft, Vignette, IBM, Oracle, MicroStrategy, Informatica, Ounce Labs, and Intel – as well as SAP-Microsoft solution provider ERP-Link. With over 700 professionals worldwide, ITWorx uses its expertise to develop world-class e-banking, e-payment, securities, and capital market applications and services for financial institutions, ensuring the security, performance, and quality of financial data workflow and transactions, and providing application support and integration with legacy systems. References include Execution Ltd., Standish Mellon, Riskclick, Egypt Post, and Arab National Bank. ITWorx is privately held, with financial backing from the EuroMena Fund, Venture Capital Bank, and Proparco. For more information, visit www.itworx.com.
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