Cairo & Alexandria Stock Exchanges (CASE) and Shanghai Stock Exchange (SSE) signed a Memorandum of Understanding (MOU) to facilitate the exchange of information between the two exchanges for the respective benefit of the securities markets in Egypt and China.
The MOU was signed by Mr. Maged Shawky, Chairman of CASE and Mr. Liang Geng, Chairman of Shanghai Stock Exchange.
Worth mentioning that the visit of the Shanghai Stock Exchange Chairman is the first of its kind to Africa and the Middle East, which is considered a first step toward more cooperation with other markets in the region.
Key points included in the MOU:
Markets operated by the parties:
Upon the reasonable request of SSE, CASE may provide infrequently information to SSE, for SSE using such information for evaluation and developments of markets. SSE may provide infrequently information to CASE, for CASE using such information to evaluate and further the development of markets.
Further Co- operation:
Co-operating on further matters, whether in relation to exchange of staff, secondment or any other matter for the mutual benefit of the parties hereto.
If any additional cooperation proposal or project arises between the parties in relation to the memorandum, the parties will enter into further agreements in respect of such cooperation arrangements on the terms and conditions to be agreed between the parties.