Leading bourse BSE today joined hands with Egyptian Exchange (EGX) for cooperation in exchange of information across business areas.
In a statement, EGX Executive Chairman Mohamed Omran said that the exchange aims to cross list and trade securities that would provide new investment alternatives to investors in both markets.
The exchanges signed a memorandum of understanding (MoU), through which they have created possibilities for a range of opportunities to be studied and explored for the development of their businesses, products and markets and to share knowledge and build on both bourses' strategies to strengthen international connectivity.
"This MoU further complements EGX's strategy to cooperate with global exchanges beyond its traditional markets in Africa, the Middle East and Europe. EGX and BSE both boost a long history of being in existence and business over 100 years," Omran said.
Ashishkumar Chauhan, Managing Director and CEO at BSE, said: "The MoU between BSE and EGX represents a significant step in integrating both the exchanges to build capital market flows. We are sure that this integration will go a long way in building both our expertise in product development and strengthening international connectivity".
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