BFX Market Services
The Market Services Department is the single point of contact for Members, Independent Software Vendors (ISV's) and Data/Quote Vendor (QV's) regarding exchange functionalities, connectivity and any other queries. The Market Services team is responsible for Hosted Trading Solutions, Incident Management, Problem Management Services and on boarding Members onto the BFX.
The Market Services team will coordinate with internal departments in the BFX including, Market Operations, Clearing & Settlement, Membership, IT & Networking and Application support. It will also interface with any related external entities.
Further, the BFX Market Services are responsible for the ISVs and the accreditation of the back office solutions.
Some of the major activities which the BFX Market Services carry out are:
- Providing support for all requests and services required by the BFX Members related with Hosted Trading Solution & Out-Sourced Back Office Services.
- Communicating with Members and Vendors via telephone, e-mail and the web.
- Logging all calls and incidents into the Market Services Department tracking database.
- Prioritising, analysing, routing and resolving problems in a timely manner.
- Creating and overseeing the knowledge deployment process, including gathering source information for the knowledge base and interviewing knowledge holders.
- Catering to service request from Members (Registered / Prospective) and ISV's - for Production and Test environment.
- Handling client requests for Password re-set in coordination with Operations team.
- Facilitating ISV's and QVs (New and Existing ) with API documents and following up for development status.
- Arranging for Testing and Conformance environment for ISV's to test their development and developed systems for the Exchange certification.
- Working with ISV's for new functionality from the Exchange.
- Arranging TWS/MAT demos for new members in coordination with the business development and operations teams.
- Coordinating with the system and network team for Member connectivity.
- Responsible for FIX specific testing for new releases.
- Other request received internally from Business development, Operation and system team
Hours of Operation
The BFX Market Services department is open from 8:00am to 10:30pm Monday to Friday
How to contact the BFX Market Services department
T: +973 16 511 611
F: +973 17 912 112
Hosted Trading Solution
The Bahrain Financial Exchange's core competence has been to develop the most robust, cost efficient and transparent trading platform to enable its Members to deal confidently in multi-asset instruments for both themselves and their clients in a fully regulated and cleared environment.
With this objective in mind, the BFX has partnered with selected vendors to provide high quality Hosted Trading Solutions that Members can reliably use to trade on the BFX. We have launched an initiative whereby Members of the BFX can execute all trading transaction processing activities through the Hosted Trading Solution.
The Solution offered is hosted by the BFX at its premises and Member's can access the software remotely from their offices and perform key functions. This facility is offered on a monthly rental charge basis providing the users financial ease to establish themselves in the new market place. Sharing of the operational cost provides an added advantage and thus reducing a major part of overall costs significantly.
Key benefits of the Hosted Trading Solution include:
Human Resources Benefit: Hosted Trading Solution is managed by the BFX's technical and functional experts who are well experienced in handling critical networks, managing databases and applications. The BFX Market Services department also provides a help desk to support Members and their clients facing any functional or technical related issues.
Financial Advantages: Substantial investment has been done by the BFX for the establishment of the Hosted Trading Solution. Therefore, the Members benefit by saving on the capital and recurring expenditure required to set-up and maintain a complete data centre that comprises of hardware, operating software, trading and settlement applications, networks, equipment and other infrastructure requirements.
Other benefits include:
- Ease of deployment and faster time to market
- Real-time disaster recovery
Outsourced Back Office Services
In this competitive environment, where operational cost and resources play a vital part in growth of any organisation, the BFX have launched an initiative whereby its Members of its Derivatives Segment can outsource the Transaction Processing actvities to the BFX Market Services division. The Out-Sourced Back Office services offered under the umbrella of the BFX Market Services fulfill the need of bringing complete automation for the entire transactional financial services industry participants, in the Middle East and North Africa.
The proposed solution is a managed back-office software solution for Post Trade and Account processing and related activities for Members of the BFX Derivatives segment.
This will be achieved by fusing the enormous capabilities of the Financial Technologies' suite of software applications with the state-of-the-art technical equipments, data centre, networks and IT resources. The BFX Market Services division enables Members of the BFX Derivatives segment to completely outsource their end-to-end transaction processing activities. This environment is managed by a highly experienced and trained technical and functional team giving an ease to its users to concentrate completely on the business growth without worrying about the deployment of the software, hardware, networks and their maintenance and support.
The Solution offered is hosted by the BFX at its premises and the Member can remotely access the software from their offices and perform key functions such as client maintenance, view and post accounting entries as well as generate MIS.
The following modules are provided in the proposed solution:
- Client Definition
- Trade File Imports
- Contract Note Generation
- Collateral Handling
- Brokerage & Billing