XO Bahrain approved broker of BFX
Manama, July 26, 2011
XO Bahrain, an access and technology services provider across capital markets, has been approved by the Central Bank of Bahrain (CBB) as a licensed broker dealer of the Bahrain Financial Exchange (BFX).
XO Bahrain will operate from a fully automated and serviced trading facility offered by the BFX to its licensed members on its trading floor at the Bahrain Financial Harbour.
“This partnership between the BFX and XO Bahrain clearly shows the opportunities which exist for international financial institutions in the Bahrain,” said Abdul Rahman Al Baker, executive director - Financial Institutions Supervision at CBB.
“This also proves the fact that Bahrain continues to attract new financial institutions. We are glad that the BFX is facilitating foreign investment in Bahrain.”
Arshad Khan, managing director and chief executive officer of the BFX, said: “We welcome XO Bahrain as our latest member which highlights our continuing commitment to creating a strong network of BFX members resulting in the establishment of a distribution channel across the MENA region. This further strengthens Bahrain’s leadership position as the financial hub of the region.”
Mohamed Abdelhamid, managing director of XO Bahrain, said: “We are delighted with our expansion and membership at the Bahrain Financial Exchange. This membership provides our clients access to the BFX’s platform, making it easier to trade all asset classes and instruments under one roof. We anticipate that this collaboration will prove to be very successful. We are very thankful to the Central Bank of Bahrain for approving our application.”
XO Bahrain provides consultancy services to its clients for FX and commodity trading as well as consultancy services to its clients for connectivity and low latency setups. – TradeArabia News Service