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Monday, 21 October 2019

Egyptian Commodity Exchange company to be established next month

EGX, Supply Ministry to set up company to manage commodities exchange next month: The Egyptian Stock Exchange (EGX) and the Supply Ministry will establish a company to manage the Egyptian Commodity Exchange in November after it completed the feasibility study for the exchange yesterday, sources told the local press. The company will manage all the functions of the exchange, including the trading system, quotations, pricing and risk management.

The company running the commodities exchange will be a JV between the two state entities, with the EGX holding the majority of the equity. EGX Chairman Mohamed Farid announced the completion of the study in a statement earlier in the day.

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