EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced on Monday that it has partnered with Microsoft to launch a state-of-the-art Direct Market Access (DMA) platform on Azure, Microsoft's cloud computing platform offering bespoke access, management, and development of technological services. The launch aims to support the Firm's brokerage division in ensuring swift trade executions. Cloud-based in Dubai and Western Europe, the all-new DMA platform enables the Firm's clients to capitalize on compelling trading prospects swiftly and seamlessly by streamlining the process of taking bids. The platform is 160 times faster than the company's legacy DMA system and aims to accelerate the modernization of EFG Hermes' information technology (IT) infrastructure and brokerage capacities. Users will also enjoy access to algorithmic trading, an advanced trading strategy that ensures even faster speed and efficiency. Additionally, users will now be able to execute orders for regional exchanges at a 70-80% increase in performance and less network latency. Mohamed Sayed Fathy, Chief Information Officer at EFG Hermes, commented: "We are incredibly proud to be partnering with Microsoft again to launch our all-new DMA platform on the tech-led player's cloud computing platform Azure. Since the launch, we have seen a 45% increase in the turnover of DMA trading orders, having gone from previously completing 50 orders per second to now processing an outstanding 8,000 orders per second." EFG Hermes' DMA platform was designed with an eye for continuous integration and deployment throughout the platform's lifecycle, enabling EFG Hermes to work faster and more efficiently. Leveraging Azure's expansive global reach, EFG Hermes aims to further scale the platform in the future, onboarding more users and introducing a roster of new features and services as it works to enhance the ecosystem of innovative technological solutions for Egypt's financial service space. "At EFG Hermes, we firmly believe digital transformation is no longer just a competitive edge, but critical for business resilience in the rapidly evolving and increasingly sophisticated financial services market. We look forward to further building on our partnership with Microsoft by moving all our applications onto Azure, which will allow us to leverage insights that position us as an agile, full-fledged, data-driven organization, and further enrich our digital brokerage capacities in line with global standards," added Fathy. Microsoft's Azure cloud computing platform is home to over 200 products and cloud services. With more than 60 cloud regions available in over 140 countries, Azure is the world's largest cloud infrastructure, trusted by enterprises, startups and government entities of all sizes and industries for its reliability, security, computing speed and next-generation cloud services. Mirna Arif, General Manager at Microsoft Egypt, commented: "The launch of EFG Hermes' DMA platform on Microsoft Azure marks an important milestone in our strategic partnership with the leading investment bank franchise in FEM, and reflects our shared vision of empowering developers to build technological solutions that foster continuous innovation. Microsoft is committed to fueling digital transformation and innovation in Egypt by focusing on elevating key industries that are vital to the country's economic growth. We are well positioned to support EFG Hermes' mission towards modernization and are grateful for their trust in our experts and technological capacities. Through this partnership, Microsoft will provide EFG Hermes with a hyperscale, seamless, and modern digital platform that future-proofs their business as they continue to manage unprecedented risks and expand their operational footprint."
