The Egyptian Exchange Earns the Title “Vice President of the Suitability Committee of the WFE”

The Egyptian Exchange Earns the Title “Vice President of the Suitability Committee of the WFE”

As per the Egyptian Exchange (EGX) effective participation in sustainability initiatives in capital markets, the sustainability committee of the World Federation of Exchanges (WFE) announced EGX winning of the committee’s vice Chairman seat for a period of 2 years from May 16, 2016.

Dr. Mohammad Omran, EGX Chairman has confirmed the importance of this international recognition, which comes to culminate EGX efforts as one of the stock exchanges that participated in establishing the WFE sustainability committee in March 2014 with a number of leaders in this field of the WFE members. The Committee currently has 21 members, including Nasdaq, the German stock market, Istanbul Stock Exchange, Bombay Stock Exchange, Johannesburg Stock Exchange and the Stock Exchange of Singapore.

The committee elections has resulted the winning of "Corley Lorox" from Johannesburg Stock Exchange of the chairman seat, successor for "Ivan Harvey" from Nasdaq Stock Market, that was the vice chairperson since May 2014. And the winning of the committee’s vice chairman seat by Dr. “Medhat Nafie”, EGX risk management general manager and member of EGX Senior Executive Committee, and Ms. “Sonia Vavarreto" from Brazil Bovespa Stock Exchange winning of the second deputy seat.

The WFE has praised in its inaugural letter the effective contribution of the elected experts and the stock markets they represent, and their ability to lead the commission sustainability during the coming period and the effective completion of the committee’s efforts since its inception on March 2014.

It is worth mentioning that the WFE currently has 64 organized Stock Exchanges, with market capitalization of listed companies of about $ 64 trillion of 45 thousand listed companies. The trading value of the member markets is about $ 76 trillion, which represents merely 75% of the world's GDP.

EGX winning of that post is considered to be a culmination of its efforts to support and promote the stock markets’ sustainability as a leading financial institution supportive of sustainability at the local, regional and global levels.

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