Bahrain Financial Exchange (BFX), a multi-asset exchange in the middle east and north Africa, which would be internationally accessible to trade cash instruments, derivatives, structured products and shariah-compliant financial instruments, is set to launch in October 2010.
BFX has worked over the past one year to complete its exchange infrastructure, including the development of products and services within the Islamic and Conventional sectors, along with the implementation and testing of its technology. The BFX has its own clearing corporation, the BFX Clearing and Depository Corporation (BCDC) and an in-house International Training Institute, offering learning and development solutions for both individuals and corporates alike.
Arshad Khan, managing director and chief executive officer at BFX, said: “I am delighted to announce that it the will begin its operations in October of this year. Significant planning has gone into developing this date and reflects consultation with the market, regional market dynamics and internal testing and readiness.
“We are in the final stages of internal testing and audit work and our business development teams have been engaging with the market to build up a solid base of membership across the MENA region for go live. Over the coming months we will be positioning our operations for a smooth introduction as well as working with members so that integration and testing is correctly project planned and seamless.”