As society evolves, communities continue to become more interconnected — and the investor landscape is no exception to this trend.
The rise of fintech app development and technological advancements in the retail investor space, combined with a growing interest in global diversification, has enabled increased participation in the U.S. stock market. But, until now, that hasn’t always meant that all investors were competing with the same quality of data. The democratization of data is a critical aspect of Nasdaq’s mission to create a more fair and inclusive market.
Nasdaq Basic offers people around the world access to high-quality data at a reasonable price. And with the recent influx of retail investors in the Middle East eager to put money into the U.S. stock market, accurate and easily accessible data has never been more crucial.
Awaed Co-Founder and board of directors member Sultan Ghaznawi has seen firsthand the growing interest in investing in the U.S. market from investors based in Saudi Arabia and the wider Middle East.
“If you look at the trading volume in the Saudi stock market last year, it was about $1.5 trillion. If you look at non-institutional traders from Saudi to the U.S. stock market, it was about $62 billion, and we believe that there is a long way to go there and that Awaed will play a game-changing role in driving up further volumes from Saudi and the Middle East to the U.S. stock market,” Ghaznawi said.
Awaed is utilizing Nasdaq Basic to supply its retail users with several key data elements. Nasdaq Basic serves as the primary gateway for investors looking to access U.S. equities market information, providing real-time best bid and offer, tick-by-tick prices and Nasdaq opening and closing prices.
With many companies using delayed or a small subset of U.S. stock market data, real-time Nasdaq Basic provides Awaed with a competitive advantage.
“With a fertile economy, and a population that is very young, that is very tech-savvy, investment platforms that are available today do not fulfill the demand for a more reliable, a more dynamic and more importantly, a more user-friendly investment platform. From there, Awaed was founded to serve the new generation of traders and investors,” Ghaznawi said.
Nasdaq Basic provides data on not only Nasdaq-listed companies but also companies listed on other exchanges across the U.S. The data can also be implemented through a variety of investor tools, including watch lists, portfolio trackers and dynamic tickers.
“Working with Nasdaq and having a direct data feed from there will not just provide our clients with a live data feed to make faster transactions, but more importantly, it will enable them to make more informed investment decisions,” Ghaznawi said.
To learn more about Nasdaq Basic, visit nasdaq.com/solutions/nasdaq-basic or contact EUdatasales@nasdaq.com.
Image and article originally from www.nasdaq.com. Read the original article here.