Political upheaval delays Egyptian Exchange-Borsa Istanbul connectivity plans
The Egyptian Exchange EGX and Borsa Istanbul signed a memorandum of understanding on June 26, 2012 as to develop a framework of connectivity between the two markets.
0
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Both exchanges have duly embarked on the connectivity project and recently finalized its technical components. Market readiness, however, is a pending issue since brokers from each end need to commit resources through bilateral agreements. A site visit in due respect was organized in Cairo to ensure interaction among the brokers.
Given the latest development in the political landscape, there will be a delay in the project implementation timetable. Both exchanges will remain in touch to assess the status on a regular fashion.