The BFX membership continues to attract foreign financial institutions to the island.
Manama, Bahrain - 5th of November, 2012: The Bahrain Financial Exchange (BFX), the first multi-asset international financial exchange in the Middle East and North Africa (MENA) region, is pleased to announce Globe Comex International Bahrain as a new Trading and Clearing Member to the BFX trading platform.
Globe Comex International Bahrain belongs to the Globe Capital Market Group, one of India's leading financial services conglomerate offering a range of financial services products including cash and derivatives on equities, commodities and currency asset classes. The group currently has operations in India, UAE and UK and is now setting up operations in Bahrain by connecting to the BFX platform. As a member of the BFX, Globe Comex will be able to cater to a greater clientele and serve different asset class products to the financial community and investment houses in the MENA region.
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: "We welcome Globe Comex International Bahrain as a Trading and Clearing Member for the BFX and the BCDC. Globe Comex comes with a growing network of customers and expertise of clearing business that will further expand the BFX's trading prospective and stimulate higher trading volumes. Simultaneously, we are pleased that the BFX is the facilitator of setting up Globe Comex's operations in the Kingdom of Bahrain and their expansion into the MENA region."
"The BFX markets gives Globe Comex access to the MENA region customer base and offers modern and technical trading infrastructure that meets our international clients' needs, and we look forward to a rewarding relationship with the BFX." said Mr. Pradeep Agggarwal, Vice President of Globe Comex.
Global Capital has its corporate office in New Delhi with regional offices in all the Metros and growing network of more than 500 representative offices across 150 locations in India with overseas office in London and Dubai. Among several key highlights, the group has attracted US$ 42 million of equity capital in Foreign Direct Investment (FDI) from Citi Group in 2008.
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
Email: ghizlane.rahali@bfx.bh
© Press Release 2012
