Political upheaval delays Egyptian Exchange-Borsa Istanbul connectivity plans

Source: Egyptian Exchange

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.

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. 

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