FT Group launches exchange in Bahrain

Financial Technologies (FT) Group, the promoter of the Multi-Commodity Exchange of India and MCX Stock Exchange, launched Bahrain Financial Exchange (BFX) on Tuesday.

Located in the Bahrain Financial Harbor, BFX was scheduled to commence live operations on February 7 in two phases, a company release said.

In the first phase, its Islamic division, Bait Al Bursa, will launch the e-Tayseer platform for general use on February 7, followed by the launch of its conventional division on March 7. The phased approach has been designed to give traders adequate time to develop their businesses on the BFX’s Islamic division ahead of the conventional market launch.

Jignesh Shah, chairman of FT Group, commented, “The launch ceremony marked the culmination of two years of concentrated work.”