The Egyptian Exchange (EGX) began implementing its technological infrastructure development plan two weeks ago with a new data centre in Smart Village, said Chairperson Mohamed Omran.
The data centre includes the information of companies listed on the EGX, stock prices data, and customers’ files. The data centre at the EGX headquarters in downtown Cairo is very basic, Omran said.
This new data centre will account for all safety standards and power outage risks. Moreover, its general technology will be more sophisticated.
The EGX also plans to establish a new disaster recovery building in the Fifth Settlement in case of any emergency.
Infrastructure development has become a necessity now that the EGX is recovering its offerings activity since 2015. Omran mentioned four successful, major IPOs, as well as the Cleopatra Hospital offering, which is the second in 2016.
Cleopatra aims to invest in the propositions activity in the promotion of the EGX among foreign institutions abroad, and to highlight the legal structure, such as the protection of small investors and developing disclosure rules.