The Abu Dhabi Securities Market (ADSM) today became the first exchange in the Gulf region to sign a service level agreement with Reuters. The agreement is an enhanced service which improves the technical collaboration and communication between ADSM and Reuters.
Reuters is currently able to access all ADSM financial and corporate information in ‘real time’ and the new agreement will further improve the efficiency of this service.
ADSM will now aim to notify Reuters about new listings or other changes to the market at least three days prior to the first trading day. This will help current and potential investors make better informed decisions.
By providing statistics in advance of all forecasted or expected data changes that could impact the number of messages on the exchange feed, ADSM hopes to prevent any communication breakdown between the two organisations. In the event any service is unavailable for more than a cumulative period of 15 minutes in a particular month, ADSM will introduce ‘Actions to Prevent Recurrence’ which will improve the resilience of the service,
Commenting on the agreement, Khalfan Al Mazrouei, ADSM IT Manager, said: “We are delighted ADSM is in a position to offer this level of technical service to Reuters and we are honoured it is the first of its kind to be signed in the Gulf.
“This service will enhance transparency and make information about all ADSM financial activity even more widely accessible and it’s dissemination to Reuters’ clients more efficient.”
Stuart Dunlop, Business Development Manager for Reuters Middle East and Africa, commented: “Reuters has an obligation to offer our clients throughout the world timely and reliable data. We have worked closely with ADSM for many years to provide market prices - both to exchange members and the wider financial community. This agreement allows us to look forward with confidence to improved levels of service and reliability – and that will benefit both ADSM members and Reuters clients worldwide”
As part of its international best practices programme, ADSM has implemented a number of initiatives recently to improve the technical services available in the market and to enhance transparency. These initiatives include fostering XBRL, making directors deals available on the ADSM website and benchmarking the IT systems against ISO 17799 requirements to increase security.
