Egypt To List EGX30 Index Futures On NYSE Liffe In June – Chief

Egypt bourse’s agreement with NYSE Liffe, the European derivatives business of NYSE Euronext, to list the EGX 30 index shall come into effect by the beginning of next June, 2013, said EGX chief on Tuesday.

Dr. Mohamed Omran – the Chairman of the Egyptian Exchange (EGX) – noted that the agreement will enable NYSE Liffe to work with market participants to develop and launch a futures contract based on the EGX 30 index.

“Futures contract on EGX 30 index will increase volumes on the underlying constituents of EGX 30 index, which will increase liquidity on EGX cash market,” said Dr. Omran.

“Furthermore, it will introduce for the first time a beneficial hedging tool for investors to manage their risks.”

Dr. Omran further mentioned  that “EGX values its business agreement with NYSE Euronext and looks forward to more joint projects with NYSE Euronext that create value for both parties”.

It worth noting that the EGX has signed another agreement with its Turkish counterpart Istanbul Stock Exchange (ISE) aiming to finalized the joint trading process within the upcoming period.