In an important step towards their mutual goals to build capital flows and communication channels, The Egyptian Exchange (EGX) and Bombay Stock Exchange (BSE) have signed a Memorandum of Understanding (MOU) that includes mutual cooperation and the exchange of information across both Exchanges’ business areas.
Through this MOU the two exchanges 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 exchanges’ strategies of strengthening international connectivity.
“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. EGX and BSE both boost a long history of being in existence and business over 100 years. We look forward to a fruitful collaboration with BSE 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”, said Dr. Mohamed Omran, Executive Chairman of EGX.
Mr. Ashishkumar Chauhan, Managing Director & CEO of BSE, said “The MoU between BSE and EGX represents a significant step in integrating both the exchanges to build capital market flows. We are very pleased to sign this memorandum of understanding with one of the world’s oldest stock exchange. We are sure that this integration will go a long way in building both our expertise in product development and strengthening international connectivity.”