Wednesday 20 June 2018

Bahrain Bourse launches new trading platform

Manama, July 15, 2014

A new trading platform at Bahrain Bourse (BHB) will pave the way for linkages between the equity markets of the GCC, top officials have said.
Launched by Finance Minister and Minister in charge of Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa at the bourse yesterday, the new "X-stream" platform designed by Nasdaq OMX replaces the "Horizon" platform that was in use for the last 14 years, reported the Gulf Daily News (GDN), our sister publication.
Shaikh Ahmed assured the commitment of the government in supporting projects that will enhance Bahrain's position as a leading financial hub in the region and at the same time increase the competitiveness of the economy to attract more investments for all sectors that will, in return, increase economic growth and diversify the sources of local income in the kingdom.
"The bourse will play a vital role in the implementation of many key programmes relating to the privatisation of some of the governmental projects in the future," Shaikh Ahmed said.
BHB chairman Yusuf Abdulla Humood, who was also present at the launch, said the robustness and speed of the new system will drive exchange innovation for BHB to attract a variety of market participants and create innovative products and services to match international demand.
"Replacing the trading platform is a milestone in the history of the capital market sector in the kingdom, and is one of the key projects of the strategy adopted in 2011 to develop all work aspects," Humood said.
"Bahrain Bourse will soon announce the launch of various initiatives and projects that aim to develop it, increase its liquidity, and attract more investors to invest in the sector."
BHB chief executive Shaikh Khalifa bin Ebrahim Al Khalifa said the effectiveness and capability of the platform under various possible circumstances was thoroughly tested by BHB in co-operation with Nasdaq OMX.
"The new platform will enable BHB to provide more services to its clients, including issuers and investors according to internationally approved standards," Shaikh Khalifa said.
"The platform will also enable rapid execution and settlement of transactions at the bourse and enhance transparency.
"It will also enhance the capability to open up a new trading market for investors to trade in more investment instruments besides shares, bonds and sukuk.
"The technology of the new platform will enable investors to trade in derivatives, options, future options, and other instruments," he added.
Officials from the financial community, businessman, and officials from listed companies, BHB board members, and licensed brokers attended the ceremony.  - TradeArabia News Service

Tags: Bahrain | trading | GCC | bourse | platform |

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