MAC Securities joins BFX as trading member
Manama, November 16, 2011
MAC Securities has become a trading member of the the Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (Mena) region.
MAC Securities will benefit from the BFX’s well established and robust trading platform in both Islamic finance and conventional markets.
The BFX offers the advantage of trading in different asset-classes which include cash instruments, derivatives, structured products and Shariah compliant financial instruments all in a secure environment and regulated by the Central Bank of Bahrain.
Ali M Mahmood Janahi, chief executive officer and director of MAC Securities, said: “We would like to thank the Central Bank of Bahrain and the Bahrain Financial Exchange for their support and granting necessary approvals.”
He added:” I have all the confidence that the BFX platform will play a major role in building up the trust of investors and in strengthening the kingdom’s position as a financial hub in the region. As MAC Securities, we have all the trust and faith of our clients as they have previously shown through our well established corporate relation network.”
Arshad Khan, managing director and chief executive officer of the BFX and the BFX Clearing and Depository Corporation (BCDC), said: “We would like to welcome the MAC Securities as a valued Trading Member. Apart from generating foreign investment to our market, our strategy is to primary attract the local market participants on board. Thus, we are pleased to include MAC Securities to our members’ portfolio and we look forward to a productive relationship.”
BFX memberships are offered in four categories, allowing different levels of access to the market depending on the level of participation required by the financial institution and its clients. The membership categories are: Trading and Clearing Member, Trading Member, Clearing Member and Authorised Remote Member. – TradeArabia News Service