Industry SectorsFinancial ServicesAvelacom extends network to Riyadh

Avelacom extends network to Riyadh

The network service provider now offers global capital markets access to low-latency, real-time market data feeds across Saudi stock market asset classes.

Russia-based global telecom carrier and network operator Avelacom has expanded to Riyadh with the aim to allow global capital markets access low-latency, real-time market data feeds across various asset classes of the Saudi stock market (Tadawul).

“This market data solution is designed in response to a high demand from the global financial communities to find new sources of liquidity, diversify portfolios, while reducing costs and mitigating risks,” said the company, which was set up in 2001 and provides long-haul fibre routes across Europe, Russia, Asia, North America, South Africa and Australia

“Saudi Arabia continues to liberalise markets. Its latest improvements to further align Tadawul with international standards draw attention of global financial firms. And that eventually leads to an increased need in connectivity and ready-to-go IT infrastructure.

Aleksey Larichev, Avelacom’s managing director added: “By offering access to a full set of Tadawul market data we believe we encourage financial firms to explore new trading venues. The financial market is changing fast and requires the ability to create fresh and unique opportunities.

“The key things before getting started in a new market are market data, connectivity and a broker. But market data comes first. Since our expansion is driven by our clients demands we plan to expand our services portfolio and to bring more geographies and markets for more trading opportunities.”

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