The Egyptian Exchange Winner of the Most Innovative Stock Exchange for the Year 2014

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The Egyptian Exchange Winner of the Most Innovative Stock Exchange for the Year 2014

In a move that reflects the evolution size of the Egyptian Exchange (EGX) in the recent years, The Egyptian Exchange won today the  most innovative and developed African stock exchange award offered by Africa Investor foundation, one of the largest institutions concerned with the African capital markets for the most advanced and the best African market during the past year. 

The prize was announced at a large ceremony in New York Stock Exchange in presence of a large number of the top financial and investment institutions in the world which manage investments worth to Trillions of Dollars
It is noteworthy that the largest 5 stock exchanges in Africa has entered into a strong competition for that award, which returned back to EGX for the second time after an absence of 6 years, but the award jury committee announced that the size of EGX’ developments and achievements performed during the last year during the exceptional circumstances experienced by Egypt are appreciable and recognized.
Dr. Mohammad Omran, EGX chairman, stated “i’m glade to receive this new international recognition, which comes as a result of a continuous effort during the recent period to achieve a quantum leap in the market performance, where EGX in the last year launched a large number of advanced mechanisms such as the large volumes’  transactions,  intra-day trading, the Exploratory session, also EGX extended the trading hours to accommodate the increased trading volumes. “
He said that EGX has tended to activate several issues that were postponed from  a long time, such as ETFs and market maker, in addition to the Over-The-Counter (OTC) market mechanization.  The investors’ rights was of a particular interest form EGX side, it launched the new listing and disclosure rules that include improving the disclosure and transparency levels available for investor.
Dr. Omran pointed out that the relative stability in the political and economic conditions helped to cancel the majority of the  precautionary procedures that have been imposed during the period after January 2011 revolution, explaining that EGX is committed to not stop trading whatever the circumstances which gave a boost of confidence for investors in the investment climate.
Moreover he stated that these developments were reflected clearly in the increased liquidity levels, which enabled the provision of funding by more than LE 10 Billion for the Egyptian companies during the recent months to help them grow, expand and provide more jobs opportunities, also it was reflected in the stock indices rise, which recorded one of the highest records on the level of developed and emerging markets with increases of more than 108% since June 2013 and with about 44% since the beginning of the current year.
Dr. Omran declared “we are keen to continue our work and achieve greater achievements in the coming period” committing to work with all of the relevant parties to attract more investment to the Egyptian economy.


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