CAIRO: The African Stock Exchange Association (ASEA) has chosen the Egyptian Exchange (EGX) to host ASEA Executive Committee meetings scheduled to take place Monday, according to a statement.
At the EGX headquarters, eight African stock exchanges’ heads will discuss ASEA development’ mechanisms and the executive plan to activate the association’s role to develop the African markets and to promote them so they could occupy the position they deserve on the global investment map.
The EGX was elected last year as a member of ASEA’ Executive Committee for a third straight time. It also hosted a number of African Exchanges’ representatives in a technical support training program few weeks ago, in order to promote the African markets’ efficiency.
Last week, the EGX launched the first electronic system for direct disclosure of companies, in a step to increase efficiency, and promote disclosure and transparency.
Commenting on the system, EGX Chairman Dr. Mohamed Omran said “I’m proud that the new system has been implemented internally by EGX IT officials, which indicates the degree of efficiency enjoyed by EGX on the technological level.”
He added in a statement “I think we will be able to provide that system for a number of other countries in the coming period.”
Under the new system, listed companies will be able to post their disclosure reports directly to the trading screens for investors, slashing time and effort for companies to disclose their material news, the statement read.