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The Minister of Finance Launches the New Trading Platform (X-stream) at Bahrain Bourse
Jul 14, 2014
With the presence of H.E. Shaikh Ahmed bin Mohammed Al-Khalifa, the Minister of Finance and Minister in Charge of Oil and Gas Affairs, Bahrain Bourse (BHB) launched on Monday, 14th July 2014 its new trading platform (X-stream), one of the most developed and widely used platforms by stock exchanges worldwide.

Officials from the financial community, businessman, and officials from the companies listed at BHB, the Chairman and Board of Directors of BHB, and licensed brokers attended the launching ceremony. 

H.E. Shaikh Ahmed bin Mohammed Al-Khalifa expressed his pleasure with the launch of the new developed trading platform at Bahrain Bourse. H.E. Shaikh Ahmed assured the commitment of the government in supporting the projects that will enhance Bahrain’s position as a leading financial hub in the region and at the same time increase the competitiveness of the Bahraini economy to attract more investments for all sectors that will, in return, increase economic growth and diversify the sources of local income in the Kingdom of Bahrain. H.E. Shaikh Ahmed said, “Bahrain Bourse is considered one of the important institutions to the national economy and it is supported by the leadership. The Bourse will play a vital role in the implementation of many key programs relating to the privatization of some of the governmental projects in the future.” 

The Chairman of Bahrain Bourse, Mr. Yusuf Abdulla Humood expressed his thanks and gratitude to H.E. Shaikh Ahmed bin Mohammed Al-Khalifa for his patronage and presence for the launch of the trading platform ceremony. Mr. Humood also thanked H.E. Shaikh Ahmed for his support to the Bourse since its establishment.

Mr. Humood said, “Replacing the trading platform is a milestone in the history of the capital market sector in the Kingdom of Bahrain, 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.” “Bahrain Bourse will soon announce the launch of various initiatives and projects that aim to develop BHB, increase its liquidity, and attract more investors to invest in this sector. We hope to get positive cooperation from all related parties in order to achieve the desired outcome that will support the prosperity of the Kingdom’s economy,” he added. 

The Chief Executive Officer of Bahrain Bourse, Shaikh Khalifa bin Ebrahim Al-Khalifa said, “We, at the Bourse, are proud that we successfully completed this huge project according to the action plan that was set. I extend my thanks to the Bourse’s Board of Directors for their tremendous support and facilities they have provided to the executive management in order to implement this project.” Shaikh Khalifa also revealed that BHB in cooperation with the team of “Nasdaq OMX”, the company providing the platform, successfully completed several tests and virtual trading sessions during the previous months in order to test the effectiveness of the platform and its capability under various possible circumstances.

Shaikh Khalifa said, “The new platform will enable the Bourse to provide more services to its clients, including issuers and investors according to internationally approved standards. The platform will also enable rapid execution and settlement of transactions at the Bourse and enhance transparency. It will also enhance the Bourse’s capability to open up a new trading market for investors to trade in more investment instruments besides the shares, bonds and sukuk. The technology of the new platform will enable investors to trade in derivatives, options, future options, and other instruments.”

Shaikh Khalifa extended his thanks and gratitude to “Nasdaq OMX” representatives, the brokers, and Bahrain Bourse’s team for their outstanding efforts during the previous months, where they were able to overcome all the obstacles they have faced, and successfully launched this project with their commitment and hard work. 

It is worth mentioning that Bahrain Bourse and “Nasdaq OMX” signed an agreement in July 2013 to replace the “Horizon” trading platform with “X-stream” that was designed by “Nasdaq OMX” and is widely used by stock exchanges worldwide.

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