Media Centre:
Press Release
Bahrain Financial Exchange to set up operations at Bahrain Financial Harbour
- First multi-asset exchange in the Middle East and North Africa that will be internationally accessible to operate from the landmark BFH
Manama, Bahrain, 30, August 2009: The Bahrain Financial Harbour Holding Company (BFHHC) today announced that Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa that will be internationally accessible will establish its operations at Bahrain Financial Harbour (BFH).
Senior BFH officials said a tenancy agreement has been signed with the BFX, under which the company will occupy the 12th floor of the East Tower.
The BFX, launching in first quarter, 2010, is the first multi-asset exchange in the Middle East and North Africa and will be internationally accessible to trade cash instruments, derivatives, structured products and Sharia-compliant financial instruments. Access through the e-trading platform and the BFX trading floor, located at the Exchange, will allow market participants to raise capital, manage risk and enable investment in a secure environment with central counterparty clearing and settlement. The Exchange is also pioneering international standard financial training to facilitate market understanding and development.
Commenting on BFX's decision to operate from BFH, Mr. Eric Fotiadis, Chief Development & Co-ordination Officer of BFHHC said: "BFX is the first international multi-asset exchange of its type in the region's growth markets. We consider BFX's recent tenancy as yet another milestone in our development and a noteworthy endorsement of the unique model and work environment BFH provides its tenants in today's times."
Arshad Khan, Board Director, BFX commented, "We are delighted to be located in the BFH, part of the financial centre of Bahrain. The location and facilities are ideal for the business model of the BFX."
The final touches are being given to BFX 12th floor to create the BFX ‘plug and trade' trading floor and an international standard training facility. The trading floor will benefit users by providing real-time market sentiment, concentrating liquidity and the use of full customer relations services. Whilst the international standard training facility is designed to offer a wide range of financial training courses to develop users of the Exchange today and for the next generation of financial specialists in the region.
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Note to the editor
About BFH
A fully integrated, master-planned development, the US$ 3 billion Bahrain Financial Harbour (BFH), is creating a complete financial city, a self contained community and reinforcing Bahrain's unique position as the financial capital of the Middle East. A first of its kind development in the region, BFH is a highly focused, committed and advanced financial environment spread over 380,000 square metres of prime seafront property in the centre of Manama, Kingdom of Bahrain. Furthermore, it comprises 10 projects that distinctively combine business, leisure and residential components under one canopy. Phase I of the project ‘The Financial Centre' which includes the Harbour Towers - Bahrain's tallest towers and the Harbour Mall. The Financial Centre is operational and open for business.
About BFX:
- The Bahrain Financial Exchange (BFX) will begin trading in Q1, 2010;
- The BFX is licensed and regulated by the Central Bank of Bahrain (CBB) to trade multi assets including cash instruments, derivatives, structured products and Sharia-compliant financial instruments;
- BFX is a wholly owned subsidiary of the Financial Technologies Group;
- The Exchange has an international standard in-house training facility;
- Website: http://www.bfx.bh/
Press enquiries to: 00973 16 511 511, Narjes Yousif , narjes.yousif@bfx.bh Website: http://www.bfx.bh/
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