The Egyptian Exchange Wins Chairmanship of the Federation of Euro-Asian Stock Exchanges (FEAS)
Tuesday, 29 June 2021Egyptian Exchange Posted
During the 32nd Annual General Assembly meeting of the Federation of Euro-Asian Stock Exchange (FEAS), attended by the executives of the stock exchanges and depositories of the members of the federation from more than 20 countries, Dr. Mohamed Farid, Chairman of The Egyptian Exchange (EGX) was elected as the chairman of the FEAS. The Egyptian Exchange received 23 votes out of 38 in a tough competition with Sydney and Armenia.
Dr. Mohamed Farid, Executive Chairman of The Egyptian Exchange (EGX) and FEAS’s Newly Elected Chairman said: “It’s a great honor for me to be elected as a FEAS Chairman, thanks to all my colleagues for placing their confidence and support in me. I would like to take this opportunity to congratulate the newly elected Board and Audit Committee members. I am sure that through hard work and dedication, we will achieve success within FEAS. Together we will work for the development of the federation and of capital markets in general.”
Dr. Farid added ”All efforts will be exerted for the capacity build of the Federation’s members contributing to their competitiveness, as well as coordinating working on simplifying and facilitating investment procedures, and strengthening channels of communication to improve visibility, which contributes to the activation of trading and liquidity.”
Dr. Konstantin Saroyan, FEAS Secretary General said: “I would like to take this opportunity on behalf of FEAS Members and FEAS Secretariat, to thank our outgoing Board Members for their consistent and thoughtful work in building and growing FEAS for what it is today. Together we have witnessed several global challenges during previous years, but through active and goal-oriented communication, we overcome these challenges! I’m sure you will be contributing to FEAS development not less efforts, as a member of FEAS.”
He added: “FEAS members elected new Governance bodies for the federation. We believe that with our new Chairman and Board Members, the FEAS will continue to develop its mission, to promote cooperation, development, collaboration and promotion of the capital markets of the Eurasian region. Thanks to all our members for being with FEAS, and for being keen to develop the federation’s mission.”
The Federation of Euro-Asian Stock Exchanges (FEAS) was established on 16 May 1995 with 12 founding members. The purpose of the Federation is to contribute to the cooperation, development, support and promotion of capital markets in the Euro-Asian Region (i.e. Europe, Asia and the Mediterranean Basin).
FEAS comprises 39 members; 20 full members, 7 affiliated members, 8 observers and 4 partners, including regional institutions and federations from 20 countries, such as the European Bank for Reconstruction and Development (EBRD).
Elected board members are; The Egyptian Exchange (Chairman), Kazakhstan Stock Exchange (Vice-Chairman), Amman Stock Exchange, Armenia Securities Exchange, Athens Stock Exchange (Working Committees Chairman), Iraq Stock Exchange, Muscat Stock Exchange, Sydney Stock Exchange (Working Committees Vice-Chairman), Tehran Stock Exchange, European Bank for Reconstruction and Development (EBRD), Muscat Clearing & Depository.
The Federation of Euro-Asian Stock Exchange is one of the largest regional entities in the region with a market capitalization of $18.8 trillion, annual traded value of $873.5 billion, and number of securities about 3,626 securities (shares and bonds).