EGX Gears Up for Launching Shariah-Compliant IndexSource: www.export-egypt.com 8/12/2023, Location: Africa |
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The Egyptian Exchange (EGX) is looking into the best among global trading platforms to utilize them under contracts to be signed in the upcoming year, EGX Chairman Rami Al-Dakani said.
EGX also plans to launch a new Shariah-compliant index, Dakani told MENA in statements. EGX’s contract with NASDAQ OMX to use its X-Stream trading expires next year, Dakani said, noting that a study is currently in progress to choose from other trading systems, such as “Millennium Exchange”, an electronic trading platform currently used and developed by the London Stock Exchange Group. EGX may also extend its contract with NASDAQ OMX, Dakani pointed out. Moreover, EGX is currently working on selecting a number of companies with high solvency ratio, in preparation for launching a new Shariah-compliant index with a view to luring more foreign investors who are more inclined to this kind of financial instruments, revealed the EGX chief. |
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