The Egyptian Exchange (EGX) launched its FIX HUB project this month through linking to FIDESSA trading network. EGX FIX HUB network will enable international investors to trade Egyptian securities with ease through a FIX gateway. Accordingly, this will reflect positively on the Egyptian market liquidity without violating capital market rules. It is worth mentioning that few years ago EGX has started its FIX HUB project with the aim of linking to London Stock Exchange (LSE).
EGX signed contracts with two firms i.e. FIDESSA and ULLINK. FIDESSA is a network having about 175 stock markets in the Middle East, Europe, Asia, America and over 3600 of partners in the financial services field with nearly 800 Billion US Dollars of executed buy and sell orders inside that network. ULLINK network serves about 131 financial institutions in the United States, Canada, Latin America, Europe and South and East Asia.