Manama - MENA Herald: Securities & Investment Company (SICO), licensed by the Central Bank of Bahrain as a conventional wholesale bank, announced today the launch of a MENA-wide online brokerage trading platform – ’sicolive’. This seamless and secure multi-functional service will enable clients to trade in real time across all the region’s key markets from a single account that can be managed through their desktop computers, laptops and mobile devices.
Commenting on this development, Ms. Najla Al Shirawi, Chief Executive Officer of SICO, said: "The new online service signals a further integration of our unique mix of comprehensive, end-to-end solutions, which provide clients with brokerage, cash management and custody services all under one roof. It also reflects SICO's deep expertise in providing customized solutions with exceptional reliability and scalability to all our clients.”
She added: “Live newsfeeds, real time quotes from any MENA market and instant access to all account and transaction information allow for a seamless and secure trading and account experience. The aim is to further empower our clients, helping them to keep closer track of the market and make better informed and more cost effective investment decisions. ’sicolive’ is an intelligent trading platform that promotes ease of use and high-performance, with risk mitigation as a central consideration."
According to Mr. Fadhel Makhlooq, Head of SICO Brokerage: “As one of the most advanced systems of its kind in the region, ‘sicolive’ features the highest levels of functionality and security. It will enable institutional and retail clients to engage in direct trading and manage their accounts with greater convenience, ease and flexibility. The multi-functional platform offers a range of services including the option of real time quotes and price feed subscriptions, as well as access to news and announcements released by regional stock exchanges.
“Importantly, the new platform leverages the unique market insight of SICO’s research team. Our experienced analysts cover over 90 per cent of major GCC-listed companies, of which half are blue-chip, top-tier entities active in key sectors such as banking, telecoms, industrials, real estate and construction, healthcare and consumer. This integration of research and execution will provide investors with critical market intelligence to make the most informed investment decisions from their trading screens,” he added.
SICO’s brokerage services cover equities, bonds and Sukuks trading; with a physical presence in the United Arab Emirates through its Abu Dhabi-based subsidiary, SICO UAE, it provides access to the Dubai Financial Market (DFM), Nasdaq Dubai and Abu Dhabi Stock Exchange (ADX).
Additional services are offered out of Bahrain, where SICO has been the leading broker on the Bahrain Bourse for the past 18 years, include single account brokerage services across the GCC and other MENA markets, margin trading facilities for equities, and repurchase agreements (repos) for fixed income. The Agency Brokerage Desk, established in 2010 as the first of its kind in Bahrain, is another service that enables clients to use a single broker for transaction executions, while having their own disclosed accounts with various GCC and other MENA stock exchanges where they are required to have a nominated custodian.