Blue Systems to launch Arabic language market tracker

Sulim Malook, Blue Systems' President and CEO, told AME Info that the programme had been very well received on the global market and that the company was looking forward to similar success in the Middle East.

Blue Systems already has regional tie-ins with operators including Etisalat and Zain and hopes to rapidly expand this base.

'The uptake in the Middle East is just starting but we have got agreements with mobile network operators across the globe,' said Malook. 'We only launched our product on the London Stock Exchange with Blackberry in May of this year but we already have customers and clients across five continents.

'The uptake is proving to be very significant in these volatile market conditions that we are currently experiencing. Why? Basically because people need to know what's happening in real time. So it's quite timely that we have a low cost, global financial application that not only do operators want to provide their customers but that those customers want to buy directly. The uptake has been phenomenal worldwide and we're hoping to replicate that kind of success here.'

Blue Systems are also seeking to distance themselves from the current financial data products on the market. The main point of note is the cost variance. The programme is on sale at a fraction of the price of in depth research systems, but still carries the information needed by a private investor.

'Bloomberg is a fabulous product, Reuters is a fabulous product - I was a user of both for many years,' said Malook, who worked on the trading floor of the LSE for many years. 'However, in so far as our price point is 8% of both of these terminals, it is therefore affordable to a mass audience of new investors, particularly in Asia and especially in the Middle East.

'The idea is to provide the kind of software, the kind of timeliness, the kind of information that was once the just the premise of these premium finance houses and investment banks, and make it accessible to the mass market.'

Blue Systems is looking to aggressively expand its base in the region, in line with all its global markets. Fresh from signing deals with the big US mobile network providers, the company hopes to be able to allow Gulf users the ability to go one step further and use the system to actually make trades through.

'In the short term we're looking to roll out the software to give people access to the markets, and in the medium term we're hoping to be able to enable them to trade on the markets using the application. The service is available in English, Russian, traditional and simplified Chinese, Korean, Portuguese and Spanish right now. An Arabic version is imminent, in fact within two weeks from today we should see an Arabic version becoming available.'