Egypt’s Securities Depository Center Signs Tie-up Contracts With Turkish Counterpart

Misr for Central Clearing, Depository and Registry (MCDR) said on Thursday it has signed the tie-up contracts with its Turkish counterpart. The tie-up project targets making a joint-trading bourse linking between the Egyptian Exchange and Istanbul Stock Exchange (ISE).

Awni Abdel Aziz, Chairman of the Division of Securities at the Egyptian Federation of Chambers of Commerce, said the MCDR had signed the contracts a couple of days ago.

“This step comes after the EGX has signed the linkage contracts with the ISE during the previous weeks.” Awni added

“The tie-up project will contribute to building up the biggest stock market in the Middle East. Investors will be able to trade in the Egyptian and Turkish firms’ stocks.”

He said there will be  trading screens showing the firms listed on both EGX and ISE.