Media Release
The Egyptian Exchange (EGX) and Bombay Stock Exchange (BSE) sign a Memorandum of Understanding
Wednesday 26 July 2017: In an important step towards their mutual goals to build capital flows and communication channels, The Egyptian Exchange (EGX) and Bombay Stock Exchange (BSE) today signed a Memorandum of Understanding (MOU) that includes mutual cooperation and the exchange of information across both Exchanges’ business areas.
Through this MOU the two exchanges have created possibilities for a range of opportunities to be studied and explored for the development of their businesses, products, and markets, and to share knowledge and build on both exchanges' strategies of strengthening international connectivity.
“This Memorandum of Understanding further complements EGX's strategy to cooperate with global exchanges beyond its traditional markets in Africa, the Middle East and Europe. EGX and BSE both boost a long history of being in existence and business over 100 years. We look forward to a fruitful collaboration with BSE for the benefit of both exchanges, and aim to cross list and trade securities that would provide new investment alternatives to investors in both markets”, said Dr. Mohamed Omran, Executive Chairman of EGX.
Mr. Ashishkumar Chauhan, Managing Director & CEO of BSE, said “The MoU between BSE and EGX represents a significant step in integrating both the exchanges to build capital market flows. We are very pleased to sign this memorandum of understanding with one of the world’s oldest stock exchange. We are sure that this integration will go a long way in building both our expertise in product development and strengthening international connectivity.”
About EGX
The Egyptian Exchange (EGX) is Egypt’s only registered Stock Exchange. It is the oldest and most open market in the Middle East, and North Africa. EGX is a market operator specialized in listing and trading equities, government bonds, corporate bonds, ETFs, and close ended mutual funds. It operates a high quality market for the benefits of its local and international clients. EGX serves and empowers its customers by providing top notch market technology, innovative products, fair, transparent, and efficient markets.
About BSE
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing. BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments. Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE Media Contact
Yatin Padia
022 2272 8516
Yatin.padia@bseindia.com