The Egyptian Exchange (EGX) And Istanbul Menkul Kiymetler Borsasi (IMKB) Signed A Memorandum Of Understanding To Enhance Cooperation Between the Two Markets

25/06/2012

The Egyptian Exchange (EGX) and İstanbul Menkul Kıymetler Borsası (IMKB) signed a Memorandum of Understanding (MoU) on Friday 22nd June 2012 in Istanbul-Turkey. By signing this MOU both exchanges aim to enhance cooperation between the two markets; mainly in the field of automated trading systems development, exchanging technical information, sharing expertise for more efficiency of capital markets in both countries and cross listing of ETFs.

The MoU states that officials in both markets will cooperate to develop the links between the two exchanges which supports their plans in order to attract more investments. Signing that MoU comes as part of EGX?s participation in the meetings of the Organization for Economic Co-operation and Development (OECD) taking place in Istanbul-Turkey.

From his side, Dr. Mohammed Omran, EGX Chairman ensured that the cooperation between both markets is of great significance, as it contributes to the organizational structure development in both exchanges, as well as to the disclosure and transparency rules. Also it has a great role in facilitating flow of information that positively influences the business environment and enhances the capital market role in financing companies with different sizes.