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Financial Technologies-promoted Bahrain Financial Exchange (BFX), the Middle East and North Africa’s first ever multi-asset exchange, launched its operations on Tuesday, with an official launch ceremony in Bahrain hosted by Mr Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, the exchange said in a press release on Tuesday.
Scheduled to commence live operations on February 7, the BFX will see two phases to roll out. In the first phase, its Islamic division Bait Al Bursa will launch its e-Tayseer platform for general use, followed by its conventional division on the March 7. The phased approach has been purposely designed to allow market traders adequate time to develop their business on the BFX’s Islamic division ahead of the conventional launch, BFX said.
In its initial stage, 10 tradable products will be available on the BFX’s conventional platform, including commodities, currencies and equity indices, as well as e-Tayseer on its Islamic platform, which offers traders and investors real portfolio diversification from day one.
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