Beltone Expands SunGard's OMS for Market Making on Egyptian ETF

Egyptian-based investment bank adds SunGard's market making and trade execution tools.

Philippe Carré, SunGard's global head of connectivity, said helping Beltone with its market-making business speaks to the technology firm's willingness to invest in the Middle East and North Africa.

Egyptian-based investment bank Beltone Financial announced it will add SunGard's market making and trade execution tools to its order management system (OMS) and market connectivity platform.

The move comes after Beltone announced it would become the first market maker on the Egyptian Exchange's (EGX) exchange-traded fund (ETF) that tracks the EGX30 index called XTMisr.

"Local financial markets are focusing on maturing their product offering to reflect the increased sophistication of local and regional investors, as well as responding to increasing interest from international investors looking to trade in the Middle East," said Philippe Carré, global head of connectivity for SunGard, in a statement. "We are pleased to expand our relationship with Beltone Financial to support the launch of its market-making business on the new ETF segment of the Egyptian Exchange and to help them achieve more with an integrated trading platform,"


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