Egyptian stock market set to overhaul trading platform

The exchange is implementing a new platform to cater for the market’s rapid growth in recent years.

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By  Administrator Published  January 11, 2007

The Cairo and Alexandria Stock Exchanges (Case) signed an agreement with market technology solutions specialist OMX for the customisation, implementation and support of its X-Stream system.

The solution replaces EFA’s Horizon trading platform, which Case said did not support derivatives and market makers. The exchange said X-Stream should be operational by the first quarter of 2008.

Announcing the deal this week, Maged Shawky, chairman of Case, said reasons for the exchange choosing a solution from Sweden-based OMX included its performance, reliability, scalability, robustness and cost to operate.

OMX said the deal was an opportunity to strengthen its position in the Middle East and Africa (MEA), which it described as a “highly interesting” region.

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