THOMSON REUTERS ADDS EFG-HERMES TO ORDER-ROUTING NETWORK

Posted May 26, 2009

DUBAI and CAIRO – Investment bank EFG-Hermes has joined the Thomson Reuters order-routing network, expanding its exchange-trading offering throughout the Middle East and North Africa.

“Joining the vast Thomson Reuters brokerage network will not just result in new trades for the firm — it will also give EFG-Hermes’ clients around the globe unrivaled access to markets within the region,” says Sherif Cararah, EFG-Hermes Securities Brokerage Managing Director. “We see this as a further evidence of our long term commitment to providing value-added brokerage services.”

EFG-Hermes brings a vast network and access to liquidity pools across the main markets in the Middle East, including Egypt, Saudi Arabia, Kuwait, and the United Arab Emirates to Thomson Reuters global client base.

Financial market professionals using Reuters Trading for Exchanges can now route orders to EFG-Hermes for execution. EFG-Hermes builds on Thomson Reuters strong brokerage network and raises the number of regional brokers to 37. Any firm connected to the Thomson Reuters order routing network, both inside and outside the region, can now access liquidity from the largest markets in the Middle East and North Africa.

“Thomson Reuters is committed to supporting the expansion of the financial markets in the Middle East,” says Basil Moftah, Managing Director for Thomson Reuters in the Middle East and Africa. “We’re pleased to have such a prestigious and respected institution like EFG-Hermes to support this aim as well as broaden our service. Thomson Reuters plans to continue to support this growing region by adding more specialized content and additional trading capabilities.”