NEW YORK and MANAMA, Bahrain, July 21, 2014 (GLOBE NEWSWIRE) -- Bahrain Bourse and NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), today announced that Bahrain Bourse has gone live with their new trading engine, powered by NASDAQ OMX's X-stream trading platform. The project went live on Monday, July 14, providing Bahrain Bourse with the world's most widely deployed, multi-asset trading platform.
"Replacing our trading platform is a milestone in the history of the Kingdom of Bahrain's capital market, and is one of the key projects of the Bourse's strategy that was adopted in 2011 to develop all work aspects at Bahrain Bourse," said The Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO, Bahrain Bourse. "I extend my thanks to the Bourse's Board of Directors for their tremendous support and facilities they have provided to the executive management, as well as our technology partner NASDAQ OMX."
The new platform will enable Bahrain Bourse to enhance trading options for investors and a variety of market participants, as well as create innovative products and services to match international demand. In addition to the new X-stream technology, the exchange will also continue to leverage the existing CSD technologies that have been provided and supported by NASDAQ OMX since 2000.
"As Bahrain Bourse continues to develop as an exchange leader in the region, we are thrilled to support them on the launching our X-stream technology, as well as their efforts in promoting a transparent and efficient market for all market participants," said James Martin, General Manager, Middle East and Africa, NASDAQ OMX.
NASDAQ OMX's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East.
About Bahrain Bourse
The Bahrain Bourse (BHB) was established as a shareholding company in 2010 to replace Bahrain Stock Exchange that was established in 19987. Officially, organized trading in Bahraini stock market commenced in 1989, and it included financial instruments such as equities, fixed income instruments, and mutual funds. BHB is a self-regulated organization (SRO) Licensed by the Central Bank of Bahrain (CBB).
There are 50 companies listed on the exchange, two mutual funds, and nine bonds/Islamic Sukuk. The three indices tracking the market's performance are the Bahrain All Share Index, the Esterad Index (which consists of a basket of selected local-publicly listed companies), and the Dow Jones Bahrain Index.
Since its establishment, BHB has joined several regional and international organizations such as World Federation of Exchanges (WFE), Arab Federation of Exchanges, Federation of Euro-Asian Stock Exchanges "FEAS", Africa & Middle East Depositories Association "AMEDA", and Association of National Numbering Agencies "ANNA".
Foreigner investors are allowed to own up to 100% of shares of local listed companies. There are no taxes on investment in securities nor on capital gains generated from trading on shares.
For more information, please visit BHB website: www.bahrainbourse.com
About NASDAQ OMX
NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 80 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,200 listed companies with a market value of over $8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.com.
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Source: The NASDAQ OMX Group, Inc. via Globenewswire