.jpg)
The Egyptian Exchange (EGX) finalized transferring the settlement of Egyptian treasury bonds from “Misr for Central Clearing, Depository and Registry (MCDR)” to "Egyptian Central Securities Depository (ECSD)” as per the relevant legal framework starting from Sunday, May 14, 2023.
Rami El-Dokany, EGX’s Executive Chairman, stated that this successful transfer required an update in EGX’s technology infrastructure and to create necessary links with government debt instruments dealers to ensure optimal implementation of the transfer process. He added, “EGX information technology team has developed the new electronic trading system for government debt instruments which includes added features to facilitate the trading process. These new features includes the execution details, request for quotation, setting a price range for the security, and choosing the settlement date”.
El-Dokany added that this improvement would increase daily trading volumes and turnovers of Egyptian treasury bonds on the long term and the system is empowered with the possibility to add new government debt instruments.
This project was executed in cooperation with all relevant parties including Central Bank of Egypt (CBE), Misr for Central Clearing, Depository and Registry (MCDR), Egyptian Central Securities Depository (ECSD), Ministry of Finance, and Financial Regulatory Authority (FRA).
