The Egyptian Stock Exchange begins the first steps to launch the first futures exchange
The Egyptian Stock Exchange [EGX] started the first steps to launch the first stock exchange based on securities and financial instruments in Egypt by initiating the establishment of a company to settle and settle futures contracts in cooperation with the Egyptian Clearing Company. the purpose.
Mohamed Farid Saleh, Chairman of the Egyptian Stock Exchange, said that a company for the settlement and clearing of contracts for the futures exchange is being established in coordination with the Egyptian Clearing Company, after approval by the board of directors of the Stock Exchange and Clearing House. To determine either its establishment internally or the establishment of an external company to regulate futures trading in Egypt.
He added that ASE is currently working on defining the methodology, trading systems and visualization of the contracts. The legal framework and the complementary rules and regulations such as the rules of trading, membership and settlement and clearing rules will remain. After completion, they will be sent to the Financial Supervision Authority..
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