EFG Hermes Launches its All-New Direct Market Access (DMA) Platform on Microsoft’s Azure to Ensure Swift Trade Executions
The new and improved DMA platform is an integral part of EFG Hermes’ and Microsoft’s commitment toward fostering digital transformation and modernization through innovative technological solutions in Egypt’s financial services sector
Cairo, May 1, 2023
EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that it has partnered with Microsoft to launch a state-of-the-art Direct Market Access (DMA) platform on Azure, Microsoft’s cloud computing platform offering bespoke access, management, and development of technological services, to support the Firm’s brokerage division in ensuring swift trade executions.
Cloud-based in Dubai and Western Europe, the all-new DMA platform enables the Firm’s clients to capitalize on compelling trading prospects swiftly and seamlessly by streamlining the process of taking bids. The platform is 160 times faster than the company’s legacy DMA system and aims to accelerate the modernization of EFG Hermes’ information technology (IT) infrastructure and brokerage capacities. Users will also enjoy access to algorithmic trading, an advanced trading strategy that ensures even faster speed and efficiency. Additionally, users will now be able to execute orders for regional exchanges at a 70-80% increase in performance and less network latency.
Mohamed Sayed Fathy, Chief Information Officer at EFG Hermes, commented: “We are incredibly proud to be partnering with Microsoft again to launch our all-new DMA platform on the tech-led player’s cloud computing platform Azure. Since the launch, we have seen a 45% increase in the turnover of DMA trading orders, having gone from previously completing 50 orders per second to now processing an outstanding 8,000 orders per second.”
EFG Hermes’ DMA platform was designed with an eye for continuous integration and deployment throughout the platform’s lifecycle, enabling EFG Hermes to work faster and more efficiently. Leveraging Azure’s expansive global reach, EFG Hermes aims to further scale the platform in the future, onboarding more users and introducing a roster of new features and services as it works to enhance the ecosystem of innovative technological solutions for Egypt’s financial service space.
“At EFG Hermes, we firmly believe digital transformation is no longer just a competitive edge, but critical for business resilience in the rapidly evolving and increasingly sophisticated financial services market. We look forward to further building on our partnership with Microsoft by moving all our applications onto Azure, which will allow us to leverage insights that position us as an agile, full-fledged, data-driven organization, and further enrich our digital brokerage capacities in line with global standards.” added Fathy.
Microsoft’s Azure cloud computing platform is home to over 200 products and cloud services. With more than 60 cloud regions available in over 140 countries, Azure is the world’s largest cloud infrastructure, trusted by enterprises, startups and government entities of all sizes and industries for its reliability, security, computing speed and next-generation cloud services.
Mirna Arif, General Manager at Microsoft Egypt, commented: “The launch of EFG Hermes’ DMA platform on Microsoft Azure marks an important milestone in our strategic partnership with the leading investment bank franchise in FEM, and reflects our shared vision of empowering developers to build technological solutions that foster continuous innovation. Microsoft is committed to fueling digital transformation and innovation in Egypt by focusing on elevating key industries that are vital to the country’s economic growth. We are well positioned to support EFG Hermes’ mission towards modernization and are grateful for their trust in our experts and technological capacities. Through this partnership, Microsoft will provide EFG Hermes with a hyperscale, seamless, and modern digital platform that future-proofs their business as they continue to manage unprecedented risks and expand their operational footprint.”
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About EFG Hermes Holding
With a current footprint spanning 13 countries across four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) has grown over 39 years of success to transform from a pure-play investment bank in MENA into an impact-driven universal bank in Egypt with the leading investment bank franchise in Frontier and Emerging Markets (FEM). Drawing on our proven track record and a diverse team of talented employees, we provide a broad spectrum of financial services, including advisory, asset management, securities brokerage, research, and private equity, to the entire FEM region. In our home country, we have the fastest-growing non-bank financial institutions (NBFI) platform, with operations covering microfinance, leasing, factoring, Buy-Now Pay-Later (BNPL), digital payment solutions, mortgage finance, and insurance.
And with its latest acquisition of a majority stake in aiBANK, the Firm was able to provide commercial banking products and services.
Through its three verticals, the Investment Bank, Non-Bank Financial Institutions (NBFI), and Commercial Bank, the group is perfectly positioned to consistently bring disruptive financial products and services to the market space, offering a holistic portfolio that best serves its growing base of individual clients and businesses of all sizes.
Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Jordan | Pakistan | UK | Kenya | USA | Bangladesh | Nigeria | Vietnam | Singapore
Learn more about us at www.efghermes.com & stay connected with us on:
May El Gammal
Group Chief Marketing & Communications Officer of EFG Hermes Holding
Omar Salama
Communications Manager of EFG Hermes Holding
The EFG Hermes Holding Public Relations Team
About Microsoft
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.
For more information (Press only):
Joana Osta
Communications lead, Microsoft Middle East
Note on Forward-Looking Statements
In this press release, EFG Hermes Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
