Company managing Egyptian Commodity Exchange will be announced next week

Egypt to announce the establishment of new company to manage commodities exchange in a press conference next week with 100 million Egyptian pounds in capital, according to Internal Trade Development Authority (ITDA) head Ibrahim Ashmawy.

Ashmawy added that the final touches are being put in place for the Commodity Exchange Management Company for both the legal and the administrative aspects of the new company.

The company will manage all the functions of the exchange, including the trading system, quotations, pricing and risk management.

A commodity exchange is a legal entity that determines and enforces rules and procedures for trading standardized commodity contracts and related investment products. A commodity exchange also refers to the physical center where trading takes place. It is a market in which products and commodities are sold in bulk.