Daily News Egypt

EGX discuss requirements of the establishment of futures exchange with a number of global markets officials  - Daily News Egypt

Advertising Area




Advertising Area




EGX discuss requirements of the establishment of futures exchange with a number of global markets officials 

Proposed amendments to the Capital Market Law regulating the establishment of stock exchanges and markets: chairperson


Mohamed Farid, head of the Egyptian Exchange (EGX), met with officials of a number of futures exchanges on the sidelines of the annual conference of the World Federation of Exchanges in Bangkok.

Bilateral meetings included officials from the Nasdaq stock exchange, as well as Johannesburg, Moscow and India, along with representatives of the Dalian Commodity Exchange and Zhengzhou Commodity Exchange.

Farid explained that during the meetings they discussed the requirements for the establishment of stock exchanges, whether on financial instruments or commodities, and the importance of the commodity settlement of contracts, which would have requirements for warehouses for goods traded on the market.

The quality of contracts that can be traded on various types of goods, ranging from general contracts without specifying specific warehouses for the delivery of goods and trading contracts where the delivery of the goods is located, have also been addressed.

In addition, Farid discussed how to determine the goods on which the contracts are traded, as well as the dates of maturity, nominal value and other technical matters, as well as the technological structure required for the development of such contracts, the most important of which is how to obtain prices of goods in the current or future market for trading.

During the meeting, the EGX head also discussed mechanisms to raise the efficiency and capabilities of the specialised and organisation staff to deal with futures contracts or options contracts in preparation for establishing a regulated market in Egypt.

It should be noted that there are proposed amendments to the Egyptian capital market law and that these amendments would be the legislative and regulatory framework for exchanges and markets of contracts in Egypt. The amendments also include allowing trade on contracts based on financial instruments, such as stocks, bonds, and agricultural commodities.

Advertising Area



https://cdn1.dailynewsegypt.com/2017/09/10/egx-discuss-requirements-establishment-futures-exchange-number-global-markets-officials/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe