Bourse head discusses establishing commodities exchange

CAIRO - 9 Sep 2017: Head of the Egyptian Stock Exchange Mohamed Farid has met with a number of officials from bourses that specializes in the trading of “commodities and contracts” on the sidelines of the 57th annual meeting of the World Federation of Exchange (WFE), which took place in Thailand from September 6 to 8, a statement said on Saturday.

The bilateral meetings included meetings with officials from the bourses of India, Johannesburg, Moscow and China. Farid said that the gatherings highlighted the requirements of establishing an exchange for contracts.

He also discussed the types of contracts on commodities that could be traded and the criteria on which commodities will be chosen, among other technical issues. The needed technological infrastructure for creating these contracts was also discussed.

Farid further mulled the mechanisms of enhancing the capabilities of the stock exchange’s employees in the specialized area of trading contracts.

There are suggested amendments for Egypt’s Capital Market Law in a way that will allow a legislative and regulatory framework for the establishment of a bourse for contracts in the country.