EGX Chairman said, “The participation in the WFE annual meetings affirms that EGX is keen to develop its relationships with the international capital market leaders and the international regulatory and supervisory authorities’ senior officials to enhance cooperation and exchange experiences in the various fields.
Mr. Farid revealed that within the continuous development of the technological tools of listing, trading, membership and disclosure, EGX endeavors to intensify its reliance on data mining and artificial intelligence tools to monitor and investigate the trading process.
Mr. Farid stated that the roundtables that were part of the annual meeting shed the light on the latest developments in the technological systems and programs specialized in financial markets and the role of technology in raising stock exchanges’ efficiency as well as in providing protection from crises for all parties.
EGX Chairman moderated a panel discussion titled “A Capital Future: How Market Infrastructures Need to Plan for the Next Decade”. The panel shed the light on the means to develop capital markets using modern financial technology as well as the ways to share a vision for risk management.
Alp Eroglu, member of the General Secretariat of the International Organization of Securities Commissions, Yazid Mohammed Shraiha, representative of Norges Bank Investment Management that is the largest long-term investor in emerging and developed markets,. It invests in 72 countries worldwide with investments worth USD 980 billion. Peter K. Lenardos, Chief Executive Officer of the Senopre Group for Technology Solutions for Capital Markets and Clearing, and Theodore Fessas, President of Quest Holdings also participated.
“The discussions also dealt with tools and mechanisms that develop the role of capital markets in achieving sustainable economic development by mobilizing capital needed to finance the expansions of large and small companies which create jobs and improve people’s living conditions,” Farid said.
WFE was established in 1961; it is considered the largest gathering of world exchanges under which come financial markets and clearing and settlement institutions. It is based in London. The number of listed companies on the member exchanges is about 45,000, with capitals approaching USD 68 trillion.
The WFE works on setting standards and regulatory policies for stock markets and clearing, and settlement institutions worldwide to support the development of capital markets to achieve transparency and stability of the global financial system.