The BFX emerges as the fastest growing derivatives exchange in the region with its cumulative (single-side) trading turnover reaching the USD 10 billion mark in less than 9 months since the launch.
Manama, Bahrain - 6th August 2012
The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, proudly announces achieving a key milestone with the cumulative (single-side) trading turnover value crossing the USD 10 billion mark on the 1st of August 2012, with the total trading volume increasing to 196,431 contracts. 
The highest (single-side) daily trading turnover was USD 400.63 million, with a trading volume of 7,199 contracts achieved on the 27th of July 2012. The cumulative trading turnover of the BFX Futures reached the first US$ 5 billion milestone in 146 trading days; whereas, the next US$ 5 billion was achieved in the subsequent 33 trading days. This indicates the growth in the momentum of the trading activity, largely due to the narrow bid-ask spread and higher liquidity for the BFX Futures.
The BFX trading turnover in July 2012 was almost 8.50 times the total trading turnover in the entire Q1 2012 and is already at 64.33% of the total trading turnover for the entire Q2 2012. Similarly, the BFX trading volume in July 2012 was almost 6 times the entire trading volume in Q1 2012 and is already at 59.47% of the total volume in Q2 2012. The average daily trading turnover increased by almost 46 times from US$ 3.66 million (Jan 2012) to US$ 167.98 million (July 2012). The average trading volume increased by 30 times from 100 contracts (Jan 2012) to 3,019 contracts (July 2012). As on the 1st of August 2012, the largest traded contract was the BFX USDINR Index Futures, with a total trading turnover of US$ 6.28 billion and volume of 112,709 contracts (since its launch on the 12th of March 2012). The BFX Gold Futures clocked a trading turnover of US$ 3.57 billion with volume of 69,887 contracts.
Commenting on the occasion, Mr. Arshad Khan, Managing Director and Chief Executive Officer of the BFX and the BFX Clearing and Depository Corporation (BCDC), said: "Achieving the US$ 10 billion milestone in only eight and a half months since the launch of the BFX conventional segment is a significant achievement. With several other major derivatives products in the pipeline as well as cash market instruments, we are confident of becoming the leading exchange in the MENA region."
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About Bahrain Financial Exchange (BFX):
The Bahrain Financial Exchange (BFX) is a pioneering international financial exchange based in the Kingdom of Bahrain and internationally accessible to trade cash, derivatives, structured products and Shariah-compliant financial instruments. The BFX has set up the BFX Clearing and Depository Corporation (BCDC) to clear and settle the financial instruments traded by the members of the BFX. The BFX and the BCDC are licensed and regulated by the Central Bank of Bahrain (CBB).
The Exchange 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.
Bait Al Bursa is an Islamic finance division of the BFX, exclusively offering electronic exchange traded Islamic financial instruments. Bait Al Bursa signifies the 'Home of Exchanges', and represents the BFX's vision of providing a single venue for all the exchange traded business in the Islamic finance sector.
The BFX Training Institute (BFX-TI) is an internationally accredited training institute operating under the BFX providing world class conventional and Islamic financial training and development courses.
The BFX is a member of the International Islamic Financial Market (IIFM) and the Bahrain Association of Banks (BAB).
For BFX media enquiries, please contact:
Ghizlane Rahali
Senior Marketing and PR Manager
Bahrain Financial Exchange
Phone: +973 1651 1511
Mobile: +973 39991878
e-mail: ghizlane.rahali@bfx.bh
© Press Release 2012
