EGX ends feasibility study on commodities exchange

CAIRO - 20 October 2019: The Egyptian Exchange EGX has completed a feasibility study to launch a commodities exchange and has outlined an integrated plan of action with a deadline for the project to go into effect.

A statement by the EGX said Sunday that it is keen on learning from successful experiments in Africa and Asia in this regard.

It cited success stories of the bourses of Ethiopia, India, Iran and Ghana.

An EGX team had inspected a number of depots at logistics zones and got firsthand information about factors needed to establish a commodities exchange, according to the statement.

The team was concerned with electronically connecting the warehouses with the EGX and outlining exchange, risk management and control programs, the statement said.

It added that a firm will be named within days and should be tasked with managing Egypt's commodities exchange.