Financial Technologies promoted BAL to commence operation in mid-2012

(FTIL) - promoted Bourse Africa (BAL), the first pan-African commodity spot and multi-asset class exchange, will commence operations in mid-2012. A formal launch announcement to this effect was made by Financial Technologies (India) at the international convening on commodity exchanges in Africa, held in Addis Ababa, Ethiopia, from 8th-9th November 2011.

BAL, based on its network of linked exchange strategy, will integrate Africa by facilitating trading, hedging and investment opportunities in national, regional and continental assets for African and international users.

The FT Group operates a network of nine exchanges including MCX, the world's fifth largest commodity futures derivative market in terms of contracts traded (January to June 2011), based on, Futures Industry Association (FIA) statistics). BAL will leverage FTIL 'best-in-breed' technologies across the exchange and clearing space. It will also be supported by the Group’s ecosystem ventures engaged in providing solutions such as warehouse receipt financing, market information and capacity-building, among others.

FTIL also recognizes how well BAL’s business focus complements that of Global Board of Trade (GBOT), the exchange venture FTIL floated in Mauritius in October 2010. GBOT is focused on creating international markets - a venture accessible to investors in Africa, Asia and Middle East, thereby leveraging the strategic location of Mauritius. BAL will complement GBOT and collaborate with it to facilitate the development of domestic markets for African assets, thereby enabling price discovery and transparency and resulting in efficient price risk management, trade, financing and investment opportunities for participants not only in Africa, but across the world.

Bourse Africa is Africa’s first continental spot and derivatives exchange, central counterparty clearing house and depository platform offering trade in commodities, currencies and other asset classes. Bourse Africa will serve financial and commodity market participants and investors, both African and international, to provide opportunities for physical delivery and procurement as well as hedging, arbitrage and investment.

Financial Technologies Group is a global leader in offering technology solution and domain expertise to create and operate financial markets in multi-asset classes across Africa, the Middle-East, India and the Far East.

Financial Technologies is a flagship company of the Financial Technologies Group. It provides technology solutions and domain expertise for digital transactions and financial markets across all asset class including equity, commodities, currency and debt.