EGX Meets ESTA Board to Discuss Capital Market Developments

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.