BFX complement FFastFill's comprehensive suite of financial trading e-solutions
Manama, Bahrain - October 10, 2010: The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, announced today that it has signed an agreement for FFastFill to provide connectivity and vendor software to the exchange and its users. The appointment was followed by stringent conformity tests whereby FFastFill, a global provider of software and services to financial markets, will provide the BFX with connectivity to the FFastFill trading community of international banks and brokerage firms.
FFastFill's advanced solutions for the electronic trading community use the latest technology to automate trade flow processes through the full trade cycle of front, middle, back and risk management applications. These are delivered through the highly efficient and cost-effective medium of Software as a Service (SaaS).BFX's clients will be able to access a comprehensive list of FFastFill's unique products and trading capabilities such as multi-asset trading and clearing functionality of equity, fixed income, foreign exchange, CFD (Contract for Difference), across futures and options contracts.
Additional solutions such as electronic order routing, clearing and risk management are further improved by FFastFill's use of the latest and state-of-art developments in trade automation technology which offer an integrated package of solutions to BFX's clients.
"It is vital to us to communicate and collaborate on a global scale as we are committed in providing our clients with first-rate software connectivity that in return delivers a cost-effective and highly reliable global reach. We are delighted to welcome on board all trading firms and individuals who make use of FFastFill's sophisticated technology to access the BFX," commented Arshad Khan, Managing Director &CEO of the BFX and the BCDC.
"We are creating a state-of-the-art multi-asset exchange with the aim of attracting both regional and international clients, and this agreement is a clear statement of our continued efforts in that regard," Mr. Khan further added.
Mr. Hamish Purdey, FFastFill CEO commented: "FFastFill provides high quality global services to the electronic trading community that offer solutions to meet the unique requirements of clients across the globe. Bahrain is a new foothold for FFastFill and we are pleased to have these solutions deployed on the region's first multi-asset exchange. In doing so, it provides the flexibility of integrating FFastFill's own technology with the specialist services of other suppliers."
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About BFX:
Bahrain Financial Exchange (BFX) is a pioneering cross border and multi product exchange in the Middle East and North Africa, and will be internationally accessible, to trade cash instruments, derivatives, structured products and shariah-compliant financial instruments. The BFX is regulated by the Central Bank of Bahrain (CBB) and has an in-principal approval.
The BFX is a wholly owned initiative of Financial Technologies Group (FT Group), which currently owns one of the world's largest networks of 10 exchanges connecting fast-growing economies of Africa, Middle East, India and South East Asia.
The BFX has set up its Clearing and Depository Corporation (BCDC) to clear and settle the contracts it trades.
The BFX Training Institute is an international standard in - house training facility, providing world class conventional and Islamic financial training and education courses.
The BFX is a member of the Futures and Options Association (FOA), the International Islamic Financial Market (IIFM), the Accounting and Auditing Organization for Islamic Financial Institution (AAOIFI), the Associations of Futures Markets (AFM), and a member of the South Asian Federation of Exchanges (SAFE).
For more information, please visit www.bfx.bh
About FFastFill:
FFastFill is the leading provider of application services to the global derivatives community with using the latest developments in technology to automate trade flow processes across a firm's front, middle and back offices. FFastFill's solutions encompass electronic order routing, clearing, risk management and back office as part of integrated, yet modular system architecture. FFastFill is traded on London's Alternative Investment Market (AIM: FFA).
For more information, please visit www.ffastfill.com
For BFX media enquiries, please contact:Afrah Faraj
Hill & Knowlton
Phone: +973 17533532
Email: afrah.faraj@hillandknowlton.comNarjes Yousif
Press & PR Executive
Bahrain Financial Exchange
Phone: +973 1651 1511
Mobile: +973 39339430
Email : narjes.yousif@bfx.bh
For FFastFill media enquiries, please contact:
Tara Binsted
+44 (0)20 3002 1900
tara.binsted@ffastfill.com
John Parry, Rostron Parry Ltd
+44 (0)20 7490 8062
johnparry@rostronparry.com
© Press Release 2010
