The Bahrain Financial Exchange (BFX) has won the ‘Best Innovative Forex Product Award 2012’ at the 7th Jordan Forex Expo & Awards held in Amman, Jordan, recently.

The award was accorded to the BFX’s unique and innovative currency futures product the ‘BFX US Dollar versus Indian Rupee (USD-INR) Index Futures’, which is the world’s first derivatives product on the USD-INR currency pair that is traded like an index, a statement from the company said.

Arshad Khan, managing director and chief executive officer of BFX and BFX Clearing and Depository Corporation (BCDC), said: “Our strategy is driven by introducing and promoting innovative products and services to the market.”

“The BFX undertakes an active market consultation process before launching new products. This process ensures that the products launched by us meet the requirements of the market and thus gain higher acceptability.”

“We will continue developing and launching such innovative products to establish the BFX as a unique exchange in the region,” he concluded. – TradeArabia News Service