The Bahrain Financial Exchange (BFX), the first international financial exchange in the Middle East and North Africa (MENA) region, announced today it has signed an agreement with FlexTrade Systems, Inc. to operate as an Independent Software Vendor (ISV) of the BFX.
Under this agreement, FlexTrade Systems is authorised to provide sophisticated trading front-end technology via its FlexTRADER EMS to the members of the BFX. FlexTRADER is a multi-asset trading solution with pre-defined strategies and tactics for both portfolio and single stock trading. The platform provides organically developed real-time and post-trade analytics (FlexTQM), predictive analytics (FlexEdge) as well as risk and cost optimised portfolio trade scheduling (FlexPTS); advanced integrations with major OMSs; integrated real-time allocations and cash management; smart order routing; a fully integrated high performance Complex Event Processing (CEP) engine; commission management; complete transaction and IOI quality management, a dynamic strategy matrix.
Commenting on the occasion, Mr. Arshad Khan, Managing Director and Chief Executive Officer of the BFX and the BFX Clearing and Depository Corporation (BCDC), said: "We are pleased to collaborate with FlexTrade Systems. Our aim is to expand our services through state-of-the-art trading platforms that match the Exchange's integrated packages of trading solutions. Our association with FlexTrade Systems will take the BFX markets to the large number of global dealers trading on the international markets using the FlexTrade platform. We welcome FlexTrade Systems to join our well established seamless trading platform."
"Electronic trading is gaining a solid foothold in the Middle East through the Bahrain Financial Exchange," said Manish Kedia, Managing Director of FlexTrade Systems Pte. Ltd. in Singapore "We're honoured to be a part of their expansion as an ISV, and are fully committed to providing the Exchange and its members with the latest in cutting-edge trading technology functionality."