EGX chairman Shawky elected to board of World Federation Of Exchanges

Source: EGX, World Federation of Exchanges

Mr. Maged Shawky, the Chairman of EGX, was elected a member of the World Federation of Exchanges (WFE) Board of Directors, comprised of 15 members, which asserts the international confidence in the Egyptian Exchange.

Additionally, the Chicago Board Options Exchange (CBOE) was elected to be the Chairman of the WFE Board of Directors. Other elected members included New York, NASDAQ, Euronext, London, Tokyo, Hong Kong, Korea, Spain (BME), Johannesburg, Shanghai and Istanbul.

It is worth mentioning that Egypt is the first Arab country to join WFE as a full member, which in turn reflects the compliance of the Egyptian Exchange to the international standards recognized by financial institutions and regulatory bodies in different markets. During 2008, EGX has successfully hosted one of WFE's most important events "the WFE Sixth Developing Markets Forum.

The WFE is a private international organization comprised of the operators of the world's leading markets, which are committed to the highest levels of market quality. The Federation currently consists of 56 member exchanges from different regions, which account for over 97% of world stock market capitalization, and most of its exchange-traded futures, options, listed investment funds, and bonds. < Among the most prominent exchanges are New York Stock Exchange, London Stock Exchange, Switzerland Stock Exchange, Milan Stock exchange, Hong Kong Stock Exchange, Singapore Exchange, Deutsche Bourse and OMX Exchange LTD etc.

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