EGX launches NILEX new trading system on 13 November 2011

EGX launches NILEX new trading system on 13 November 2011

16/11/2011 The Egyptian Exchange (EGX) celebrated the launch of NILEX new trading system with a "Ringing of Bell Ceremony" on Sunday 13th of November 2011. EGX's Chairman, Dr. Mohammad Omran, announced that the trading system applied in the main market will be applied to NILEX from this day onwards.

He also stated that the coming period will witness some activities in this market for the benefit of the investor among which are;
- Handing the Nominated Advisors file to The Egyptian Exchange from EFSA
- Disclosing NILEX companies' financials on regular bases through its website and through media channels. That will help investors taking their investment decisions.
- Initiating cooperation with institutions that will help in the growth of this market i.e. ITIDA & IDC through attracting new companies to get listed.

On the other hand, Dr. Ashraf ElSharkawi, Chairman of the Egyptian Financial Supervisory Authority (EFSA), stated that the main benefit for new companies to list in the Egyptian Capital Market is to provide more funding opportunities for corporations through capital increases or issuing bonds. Accordingly, helping the Egyptian economy to develop and grow during this period of time Egypt is going through.

EFSA also cares for the benefit of the investor in this market through the application of all Mechanisms that would strengthen the disclosure and transparency by providing all information for all investors.

Dr. ElSharkawi stated that EFSA, in collaboration with EGX, always targets and works on developing the Capital Market and considers investors' welfare. Among its priorities is providing the funding mechanisms for small and medium enterprises. Also, enhancing the regulations and system framework by strengthening the disclosure and transparency rules & structure.