Cairo – Mubasher: The Egyptian Exchange (EGX) and the Australian Securities Exchange (SSX) have inked a memorandum of understanding (MoU), aiming to strengthen the cooperation and information exchange between the two bourses.
“This Memorandum of Understanding further complements EGX's strategy to cooperate with global exchanges beyond its traditional markets in Africa, the Middle East and Europe. It is the first time ever that EGX has signed an MOU with an exchange located in Australia,” said Mohamed Omran, Executive Chairman of EGX.
“We look forward to a fruitful collaboration with SSX for the benefit of both exchanges, and aim to cross list and trade securities that would provide new investment alternatives to investors in both markets,” he added, according to a statement.
The agreement aims at creating opportunities for joint listing and enhancing the investment exchange between the two markets, which helps the EGX to be more open to the global markets.
Tony Sacre, CEO of SSX, commented, “We are delighted to be partnering with EGX in this initiative. This collaboration will extend SSX's reach beyond Asia Pacific to Africa and encourage trade and capital flows between Australia and Egypt.
“Africa is a strong trade corridor for the Australian and Asian economies. Our new partnership will focus on developing innovative companies and listings in sectors such as mining, oil and gas, real estate, technology, agribusiness, and consumer and business services,” Sacre added.
