Cairo - Mubasher:  The Chairman of the Egyptian Exchange (EGX), Mohamed Farid, has been elected as the Chairman of the Federation of Euro-Asian Stock Exchanges (FEAS).

The EGX won 23 votes after competing with Sydney and Armenia exchanges which got respective votes of nine and six, according to a statement. 

The 39-member federation has a market cap of $18.8 trillion and an annual trading volume amounting to $873.5 billion.