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English news

03-Jul-2018

Futures contracts could debut on EGX in early 2019

Futures contracts are rumoured to start trading on EGX in 2019, EGX sources told Enterprise. EGX head Mohamed Farid is currently in Sweden to speak with top executives at Nasdaq and other exchanges on mechanisms to bring about futures exchanges. The bourse will begin working on setting up the infrastructure and operating mechanisms for these contracts next year. The Federation of Egyptian Chambers of Commerce is backing the measure, which would create a marketplace for oil, gas, wheat and fertiliser futures. Regulations on futures were introduced as part of the amendments to the Capital Markets Act.