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BFX set for October launch.

The BFX will be internationally accessible to trade cash instruments, derivatives, structured products and Shari'ah-compliant financial instruments.

BFX Managing Director & Chief Executive Officer Arshad Khan said, "I am delighted to announce that the BFX 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."

He said, "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".

The BFX has been working over the past one year to complete its entire exchange infrastructure, including the development of its products and services within both the Islamic and Conventional sectors, along with the implementation and testing of its state of the art 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.

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Publication:CPI Financial
Date:Apr 15, 2010
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