Nasdaq OMX has successfully launched the new trading platform for the Middle East and north Africa’s oldest stock market, the Egyptian Exchange (EGX).
In a statement, the company said the new platform has been designed to give the market greater capacity, while reducing costs and making operations easier to manage.
The technology uses a fully-integrated trading platform for handling equities, debt, exchange-traded funds, futures, options, swaps and derivatives.
Since the platform’s launch, NAsdaq OMX said there has been “immediate positive acknowledgement from participating members and the investing public”.
EGX chairman Maged Shawky says the new system will act as a “catalyst for a more efficient, reliable and thus attractive market”.
“[The platform] will enhance transaction speed and capacity and allow EGX to quickly and easily introduce new products and instruments,” says Lars Ottersgard, Nasdaq OMX senior vice-president of market technology.
EGX has its roots in the Bourse and Banking Company of Egypt, which was incorporated in 1903.
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