Back to the complete issue
Wednesday, 2 October 2019

Derivatives trading and Egypt’s first futures exchange are coming next year -Farid

Futures exchange, derivatives trading are coming next year: Egypt could launch derivatives trading and its first futures exchange in 1H2020, EGX boss Mohamed Farid said yesterday, according to the local press. No further details were provided on the plans to introduce the new financial instruments, which have been in the works for a while now.

Background: The creation of a futures market comes after amendments to the executive regulations of the Capital Markets Act issued last July opened the door to the introduction of new financial instruments, including short-selling, futures and commodities exchanges, sukuk, and green bonds. Last we heard, Misr for Central Clearing, Depository & Registry (MCDR) and the EGX were finalizing the regulations and infrastructure needed to launch derivatives trading, which would see derivatives trades settled through a new electronic platform.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.