Egypt completes feasibility studies on commodities exchange

Egypt completes feasibility studies on commodities exchange
Egypt completes feasibility studies on commodities exchange

Cairo-Mubasher: Egypt has completed feasibility studies to launch an agricultural-focused commodities trading exchange, the first of its kind in the Middle East, said Supplies Minister Khaled Hanafi on Monday.

He added that the studies were conducted by Sigma Investments at a total cost of EGP 1.3 million.

 "We're going to set up the first commodities exchange in Egypt and the Middle East," Iman al Mutlaq, Sigma CEO.

The bourse would begin with eight commodities -- six agricultural commodities, oil and gold -- and that this small number would help promote high initial volumes, she added.

The exchange will feature spot, derivative and futures trading.

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Source: Mubasher

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