Etisalat and BT (British Telecom) today announced the expansion of BT`s financial services capability in the Middle East with the launch of Radianz Services in the United Arab Emirates (UAE).
The investment in this emerging financial centre has been recognised as a key strategic development for international market participants that are keen to reach new markets and to address the challenge of establishing a continuous, 24-hour global trading environment.
Working with Etisalat, BT will establish a platform that distributes services from the UAE exchanges to BT clients already connected to the Radianz Shared Market Infrastructure.
The portfolio of services will provide financial institutions from around the world with connectivity to institutions and trading platforms in the Gulf region; BT`s global financial community and connectivity is expected to stimulate international trading with emerging financial centre. Previously the ability to connect to this region has presented operational challenges involving complex installations and significant investment.
Francois Barrault, Chief Executive Officer, BT Global Services, said: "BT is very happy to have the opportunity to increase its investment in the United Arab Emirates as it demonstrates its ongoing commitment to the financial markets. The launch of Radianz Services in UAE will act as a catalyst for future investment in the Middle East. The service capitalises on the UAE`s role as a liquidity hub for the Gulf and the increasing number of exchanges trading securities, commodities and energy products. Etisalat represents an excellent partner to introduce our Radianz Services to financial companies in the UAE."
Abdullah Hashim, Vice-President, Marketing - Enterprise Services, Etisalat, said: "Etisalat understands the need and value of end-to-end solutions based on well-known industry standards. The partnership with BT to extend Radianz Shared Market Infrastructure is yet another initiative towards this direction and reflects our commitment to satisfying the requirements of the financial community. The Radianz offering will take advantage of Etisalat`s leading-edge network infrastructure and leveraging BT`s global community of financial institutions and service providers to offer international connectivity for this specialised segment in the UAE.
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BT is one of the world`s leading providers of communications solutions and services operating in 170 countries. Its principal activities include networked IT services; local, national and international telecommunications services; higher-value broadband and Internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, Openreach, BT Retail and BT Wholesale.
In the year ended 31 March 2007, BT Group plc`s revenue was lb20,223 million with profit before taxation of lb2,484 million. British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.
For more information, visit www.bt.com/aboutbt.
Etisalat
Etisalat has been the telecommunications service provider in the United Arab Emirates since 1976. Since then, it has built up state-of-the-art telecom infrastructure and taken a leadership position of innovation and reliability among regional and international operators.
Etisalat`s mobile phone service penetration in the UAE has crossed 150% of the population. With 6.3 million subscribers, Internet and broadband penetration in the UAE has reached 60%, a significant achievement by Etisalat compared to regional average.
In addition to being the UAE`s telecom provider, Etisalat has now expanded to manage and operate telecom companies in Saudi Arabia, Egypt, Sudan, Pakistan, Tanzania, Benin, Burkina Faso, Gabon, Niger, Togo, Republic of Central Africa, Ivory Coast, Nigeria and Afghanistan. With shares in Sudan`s Sudatel, Qatar`s Q-Tel and Thuraya, the satellite telephone service provider, Etisalat is a key regional player that lends its expertise and resources towards the betterment of information and communication technology.
Visit Etisalat at www.etisalat.ae.
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