Egypt’s stock exchange to establish settlement firm for derivatives market

Big 5

Egyptian Exchange (EGX) is looking to establish a settlement firm for the underway futures and derivatives market.

The planned market will offer investors a variety of financial instruments, the EGX’s chairman Mohamed Farid told CNBC Arabia.

The settlement company will be established in collaboration with Misr for Central Clearing. Depository, and Registry, the top official added.

The Egyptian Exchange (EGX) closed the week ended 28 March in red territory amid expectations of slashing interest rates.

The benchmark EGX30 index fell 0.79%, or 117 points, finishing the week at 14,665 points, compared to 14,782 points last week.