Maher Asham: EGID Targets Kuwaiti Bourse’ Trading System Tests Completion

Maher Asham, CEO of Egypt for Information Dissemination (EGID), announced that the firm is targeting completing the third phase of the current tests made on the Kuwait Stock Exchange (KSE)’s trading system within the coming two months.

Asham also revealed that EGID plans to launch an FIX hub solution in December, in order to communicate with foreign investment banks.

Moreover, the EGID CEO said the firm was in talks with the Nairobi Securities Exchange (NSE) to create a back-office entity for stockbrokers. EGID was also in talks with the Nigerian Stock Exchange to develop its trading system. However, both the Kenyan and Nigerian offers were turned down as these stock markets depend on local companies to reduce costs.