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Given the Egyptian Exchange (EGX) ongoing support for emerging markets, the Emerging Markets Working Group (EMWG) of the World Federation of Exchanges (WFE), elected EGX to be one of the Vice Chairmen of the EMWG, for a period of two years, starting May 24, 2016.
Mr. Sunil Benimadhu, CEO of the Stock Exchange of Mauritius, and Dr. Shahira Abdel Shahid, Advisor to the Chairman of the Egyptian Exchange, were elected as the two new vice chairmen of the EMWG, which included 21 members as of May 2016, out of a total of 63 WFE members.
Dr. Mohammad Omran, EGX Chairman, has confirmed the importance of this international recognition. He mentioned that it was the result of EGX zealous and continuous efforts to support various Arab and African exchanges, which in turn assisted them to become members of the WFE.
The WFE is highly recognized as the institutional reference source for best practice in the global securities and exchange industry. EGX was the first Arab stock exchange, and second one in Africa, to join the WFE in 2005.
Dr. Omran confirmed that EGX had earlier on promoted the idea of establishing an emerging markets working group to the WFE, in order to specifically address the needs and challenges of emerging markets, and to be able to defend their position versus the large and global groups or entities.
He added that the first research to be undertaken by the EMWG would focus on enhancing secondary market liquidity in emerging markets.
