Dr. Mohammed Omran, Chairman of the Egyptian Exchange (EGX), stated that the bourse has signed an agreement with Fidessa; a global company specialized in linking buy and sell orders in global stock markets.
Pursuant to the agreement, investors from more than 175 global markets – with overall investments of approx. $800 million – can directly trade in EGX.
Omran told MENA that this agreement came after holding negotiations with several major specialized companies on this regard. He added that investors of the bourses included in the agreement will be able to trade in EGX through the local brokerage firms that are supported by relevant technologies.
The top official also indicated that three local brokerage companies have been already included in the agreement, and others can join but after meeting necessary requirements.
EGX had inked last year a similar agreement with London Stock Exchange (LSE), which allowed the latter’s investors to trade in local equities.
Source: MENA
