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EGX Meets ESTA Board To Discuss Capital Market Developments

Date 17/07/2019

Mohamed Farid Saleh, EGX Chairman, held a meeting with The Egyptian Society of Technical Analysts (ESTA) Board.  This came after the distribution of certificates ceremony for the graduating batch of CETA diploma (equivalent to CFTe certification).  This comes as part of EGX’s efforts to communicate with market participants to raise the efficiency of the Egyptian capital market. 
 
The meeting discussed the newly launched EGX30 Capped index stating that it is the most reflective of market performance.  The meeting also discussed means of cooperation supporting EGX’s efforts for the development of the Egyptian capital market as well as activities done for financial literacy of the Egyptian community.  
 
Farid said that EGX is always keen to cooperate with all market players to maximize development of the market. Adding that he perceives this reform from the value chain concepts with its 3 aspects, namely; 
 
The supply side, raising the efficiency and quality of the market through improving disclosures provided by companies as well as communicating with potential companies advising them of the benefits of listing in EGX. 
 
The demand side, raise financial literacy of the general public through programs tailored for universities and employees of established businesses and organizations in various economic sectors to acquaint them with basics of investing in the Egyptian capital market.  The financial literacy activities also includes organizing meetings between issuers and brokerage research departments.
 
The trading environment side; activating new financial products and mechanisms to simplify trading process and increase liquidity.
 
EGX management will continue its efforts to meet with different associations to discuss means of optimizing EGX’s mechanisms and introducing new financial products.