The event was attended by senior risk management executives from the Energy and Finance sectors.
OpenLink’s Middle East and Africa region branch, based in Dubai, United Arab Emirates (UAE), opened in January of 2012 and is located in the prestigious Dubai International Financial Centre (DIFC). The office is headed by Saqib Mahmood, Managing Director.
Expert speakers at this high-profile event hosted by the HM Consul General shared information about OpenLink solutions that create a straight-through processing (STP) and transaction management environment, encompassing true cross-asset, enterprise-wide risk management. OpenLink presented key needs and trends of the Middle Eastern region, including “Cross Asset Portfolio Management with Treasury Capabilities.”
It was noted that most Middle East economies share a number of commonalities:
• Large crude oil or products exporters
• Currencies pegged to fixed dollar rates
• An oil and gas industry prone to uncertainty
• A banking sector heavily linked to Financing the Energy sector.
OpenLink was able to show how its solution is uniquely positioned to offer a single platform across both sectors with the ability to simultaneously manage the treasury function. This capability will become more and more important as the demand for power in the Middle East is forecasted to rise 85% by 2030, and as a result, the market is leaning towards deregulation to introduce new independent power producers (IPP) to help meet this demand.
Mahmood said, “OpenLink’s strategy has always been to focus on growth in new geographies and industries. The event confirmed what we’ve been experiencing in the Middle Eastern region: robust solutions featuring STP and real-time data are crucial to take advantage of this growing and buoyant market.”
Dr. Markus Seiser, OpenLink EVP of Product Marketing, said, “Our core belief has always been to put clients first and to focus on the specific needs of each culture and geography. Consistently, our business model is to be geographically close to clients in order to better serve them, and the Middle East and Africa region is no exception. We’re looking forward to working with this expanding region and are well poised to support their challenges with our solutions.”
HM Consul General, Guy Warrington, said, “Dubai is recognised as a leading financial centre in the region, and I wish OpenLink every success here. UK Trade & Investment has always supported British companies looking for opportunities in the UAE, and today’s event is an excellent example of this.”
Thursday, June 28- 2012 @ 12:35 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.