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The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, achieved a key milestone with the cumulative (single-side) trading turnover value crossing the USD 1 billion mark on April 24, with the total trading increasing to 24,046 contracts.
The highest (single-side) daily trading turnover was USD 58.27 million, with a trading volume of 1,189 contracts achieved on the 23rd of April 2012. The cumulative trading turnover of the BFX Futures reached the first USD 500 million milestone in 92 trading days; whereas, the next USD500m was achieved in the subsequent 16 trading days.
Arshad Khan, managing director and chief executive officer of the BFX and the BFX Clearing and Depository Corporation (BCDC), said: “We are proud to exceed the $1 billion total trading turnover volume mark. Witnessing such a remarkable growth represents proof for the effectiveness of our offerings across all the products.
“Moreover, we see this milestone as a direct result of our business development initiatives across all the MENA markets, and our ability to play a key role in directing the region towards a leading position in the fast growing financial markets.”
