NEW YORK, Nov. 9, 2010 (GLOBE NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced that the Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, has signed a licensing agreement to issue financial products based on the Dow Jones Kuwait Titans 30 Index, Dow Jones MSM Index (Muscat Securities Market), Dow Jones ASE 100 Index (Amman Stock Exchange), Dow Jones SAFE India Index and Dow Jones MENA (excluding Saudi Arabia) Index.
"We are delighted to work with BFX as it creates new opportunities for investors in this region," said Michael A. Petronella, president, Dow Jones Indexes. "These indexes measure important markets of interest to people in a region that we are committed to support in its expansion," added Petronella.
"This relationship with Dow Jones Indexes, the region's leading index provider, represents another significant step forward for the BFX and its members. With this collaboration, we are developing the preeminent exchange in the region which will provide a range of internationally recognized products and services to the financial sector," said Arshad Khan, managing director & chief executive officer of the BFX and the BCDC (BFX Clearing and Depository Corporation).
The Dow Jones Kuwait Titans 30 Index measures the performance of the largest and most liquid stocks trading on the Kuwait Stock Exchange. The Dow Jones MSM Index is a total-market index tracking stocks listed on the Oman Stock Exchange, Muscat Securities Market. A new component must trade at least 10 days in a quarter, and an existing component will be deleted from the index if it trades less than 7 days in a quarter. The Dow Jones ASE 100 Index measures the performance of the largest stocks traded on the Amman Stock Exchange. Component stocks are subject to screens for minimum size and liquidity. The Dow Jones SAFE India Index is composed of 50 securities trading in India; it is a subindex of the Dow Jones SAFE 100 Index. The Dow Jones MENA ex-Saudi Index measures the stock performance of companies in the MENA region, excluding Saudi Arabia. The index includes listings in Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Tunisia and the UAE.
As of November 5, 2010, the year-to-date performance calculated in USD for the Dow Jones Kuwait Titans 30 Index is 26.78%, Dow Jones MSM Index is 3.68%, Dow Jones ASE 100 Index is -7.73%, Dow Jones SAFE India Index is 25.71% and Dow Jones MENA ex-Saudi Index is 12.57%.
All these indexes are float market capitalization-weighted indexes and are quoted in U.S. Dollars (USD). The Dow Jones Kuwait Titans 30 Index is also calculated in Kuwait Dinars (KWD), the Dow Jones ASE 100 in Jordanian Dinar (JOD) and the Dow Jones MSM in Omani Rial (OMR). The indexes are reviewed quarterly in March, June, September, and December. For more information on the Dow Jones Indexes, please visit .
Journalists may e-mail questions regarding this press release to media@djindexes.com or call one of the Dow Jones Indexes press offices.
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About Dow Jones Indexes
Dow Jones Indexes () is a leading full-service index provider that develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best-known for the Dow Jones Industrial Average, Dow Jones Indexes offers more than 130,000 equity indexes as well as fixed-income and alternative indexes, including measures of hedge funds, commodities and real estate. Dow Jones Indexes employs clear, unbiased and systematic methodologies that are fully integrated within index families. Dow Jones Indexes is part of a joint venture company which is owned 90 percent by CME Group Inc. () and 10 percent by Dow Jones & Company, Inc. (), a News Corporation company (Nasdaq:NWS) (Nasdaq:NWSA) (ASX:NWS) (ASX:NWSLV) ().
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About BFX
Bahrain Financial Exchange (BFX) is a pioneering cross border and multi product exchange in the Middle East and North Africa, and will be internationally accessible, to trade cash instruments, derivatives, structured products and shariah-compliant financial instruments. The BFX is regulated by the Central Bank of Bahrain (CBB) and has an in-principal approval.
The BFX is a wholly owned initiative of Financial Technologies Group (FT Group), which currently owns one of the world's largest networks of 10 exchanges connecting fast-growing economies of Africa, Middle East, India and South East Asia.
The BFX has set up its Clearing and Depository Corporation (BCDC) to clear and settle the contracts it trades.
The BFX has established Bait Al Bursa as an Islamic Finance Division to exclusively offer electronically exchange traded Islamic financial instruments. Bait Al Bursa or House of Exchanges is the first dedicated Islamic platform in the region offering exchange traded products to the Islamic finance market. e-Tayseer, the first of these products, is a fully automated platform for transactions in supply, purchase and sale of assets for facilitating Murabaha transactions.
The BFX Training Institute is an international standard in – house training facility, providing world class conventional and Islamic financial training and education courses.
The BFX is a member of the Futures and Options Association (FOA), the International Islamic Financial Market (IIFM), the Accounting and Auditing Organization for Islamic Financial Institution (AAOIFI), and a member of the Associations of Futures Markets (AFM).
"Dow Jones®", "Dow Jones Indexes", "Dow Jones Kuwait Titans 30 Index", "Dow Jones MSM Index", "Dow Jones ASE 100 Index", "Dow Jones SAFE India Index", "Dow Jones MENA ex-Saudi Index" and all other index names listed above are service marks of Dow Jones Trademark Holdings LLC ("Dow Jones"), and have been licensed for use by CME Group Index Services LLC ("CME Indexes"). Investment products based on these indexes are not sponsored, endorsed, sold or promoted by Dow Jones, CME Indexes or their respective affiliates and none of Dow Jones, CME Indexes and their respective affiliates make any representation regarding the advisability of investing in such products. Inclusion of a company in any of these Dow Jones Indexes does not in any way reflect an opinion of Dow Jones, CME Indexes or any of their respective affiliates on the investment merits of such company. None of Dow Jones, CME Indexes or any of their respective affiliates is providing investment advice in connection with these indexes.
CONTACT: Dow Jones Indexes New York: +1 212 597 5720 London: +44 20 7796 7247 Frankfurt: +49 69 29725 290 Hong Kong: +852 800 969 336 Singapore: +65 6 4154 299 Bahrain Financial Exchange Narjes Yousif, Press & PR Executive +973 1651 1511 Mobile: +973 39339430 narjes.yousif@bfx.bh Hill & Knowlton Afrah Faraj +973 17533532 afrah.faraj@hillandknowlton.com