Safia Munir

The Egyptian Exchange intends to launch futures contracts on the EGX70 Equal Weight Index, which includes the shares of the 70 most liquid companies, in addition to the shares of the EGX30 Index, as well as two shares listed on the main index soon, according to Mohamed Sabry, Vice Chairman of the Exchange, to Zawya Arabic.

Quick background

Sabri had previously told Zawya Arabic in a video interview that the stock exchange was considering launching a new derivatives product during the second half of this year, and that it was choosing between futures contracts on the EGX70 index or futures contracts on stocks, but not both together, which has now changed.

The Egyptian Exchange officially launched its derivatives market in early March, beginning trading in futures contracts on its main index, EGX30, with maturities of 3 and 6 months. However, the Egyptian derivatives market has not yet seen significant trading activity.

What's new?

In response to a question about the futures contracts expected to be issued, Sabri said: "We are trying to make it on both... on two stocks from the EGX30 and the EGX70 index."

Sabri did not specify which two stocks, but he expects these contracts to be launched during this month or next.

(Prepared by: Safia Mounir, Edited by: Shaimaa Hefzy, Reviewed before publication by: Yasmin Saleh, Contact: zawya.arabic@lseg.com )

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