The Bahrain Stock Exchange (BSE) has signed a depository participant (custodian) agreement with Gulf Custody Company (GCC) - Bahrain.

The agreement allows the bank to offer custody services at the exchange to local, regional and international investors.

"We are pleased for the joining of GCC to the institutions that provide custodian services to investors at the exchange," said BSE director Fouad Rashid.

"We are optimistic that GCC will attract more investments at BSE.

"BSE is continuously seeking to provide more advanced and diversified options to investors in Bahrain and abroad, in which these services represent a vital part in the process of investing in securities, especially in meeting the increasing needs of different investors.

"BSE will continue co-ordinating and co-operating with leading financial institutions in order to make these services available to investors in BSE," he added.

"This agreement marks the beginning of a fruitful relationship between BSE and GCC, where the company will provide its technologically advanced services," said GCC general manager Ali Al Laith.

"The signing of this agreement comes in line with meeting the needs of the clients of GCC, in which the custodian services offered are similar to those provided in other financial markets," he added.

Custodian services to investors include opening of securities accounts, settlement of trades, collection of dividends and safeguarding clients' securities, apart from management reporting and reconciliations. – TradeArabia News Service