Bahrain Stock Exchange moves toward online trading

BBM, the Bahrain operation of Gulf Business Machines (GBM) - the sole distributor of IBM products and services in the region excluding Saudi Arabia - have been the IT solution providers for BSE since its inception in 1999.

The decision to upgrade the existing IT infrastructure which has been running on IBM hardware since its inception came as a result of the steady growth in trade volumes and the ever-evolving standards in the market, explained Mrs. Narjes Farookh Jamal, Head of IT at BSE.

She added that this upgrade will facilitate online trading hoping that it will increase trading volumes dramatically by allowing current investors to trade more often and permitting international investors and smaller investors to trade directly.

"BBM remains our IT partner of choice, since they have proven over the years their excellence in IT consulting, integration, deployment and support", continued Mrs. Jamal.

According to Mr. Abdulla Ishaq, General Manager of BBM, "Most Stock Exchanges in the Gulf region rely on IBM technology, and have undergone multiple upgrades to cope with the increase in trading activities. BSE, on the other hand, are upgrading their IT infrastructure taking in consideration the maximum projected increase in trading volume."

The data and application transfer will take place in April 2008 over a weekend to ensure the transition process is seamless and the service is uninterrupted. The new environment allows for a greater scalability and coincides with BSE's move to the Bahrain Financial Harbor.