Dr. Mohamed Omran, Chairman of the Egyptian Exchange (EGX) said that the Egyptian Exchange (EGX) will start trading exchange-traded funds (ETFs) before the end of 2014, adding that amendments to some listing rules will be completed this week in order to be activated before year-end.
Egypt’s capital market is eagerly anticipating the launch of ETFs that give investors the opportunity to cover overall markets in various countries or several sectors at lower costs than other investment tools.
During Reuters Middle East Summit, Omran said EGX approved the listing of four new companies since the start of 2014. He expected this figure to rise to ten by the end of 2014. Egypt's stock exchange had granted Beltone the country's first licence for exchange traded funds (ETF).
Beltone Financial was the first company to express interest in ETFs, which are listed investment funds.
Egypt’s capital market is eagerly anticipating the launch of ETFs that give investors the opportunity to cover overall markets in various countries or several sectors at lower costs than other investment tools.
During Reuters Middle East Summit, Omran said EGX approved the listing of four new companies since the start of 2014. He expected this figure to rise to ten by the end of 2014. Egypt's stock exchange had granted Beltone the country's first licence for exchange traded funds (ETF).
Beltone Financial was the first company to express interest in ETFs, which are listed investment funds.
Source:
Mubasher
