Egypt, Turkey Bourse Alliance Hampered by Political Wrangle

The Egyptian Exchange (EGX) and Borsa Istanbul (BIST) signed a memorandum of understanding on June 26, 2012 as to develop a framework of connectivity between the two markets. Both exchanges have duly embarked on the connectivity project and recently finalized its technical components.
Market readiness, however, is a pending issue since brokers from each side need to commit resources through bilateral agreements.
A site visit in due respect was organized in Cairo to ensure interaction among the brokers.
Given the latest development in the political landscape, there will be a delay in the project implementation timetable. Both exchanges will remain in touch to assess the status on a regular fashion.