Ahmed El-Sheikh, Chairman of the Egyptian Stock Exchange (EGX) issued rules for trading carbon certificates and futures contracts.
The Board of Directors of the Egyptian Stock Exchange approved the rules for trading emissions reduction certificates with coordination with the Financial Supervision Authority to approve the trading rules for conducting the settlement and begin implementing them.
El-Sheikh said that the Egyptian Stock Exchange completed the development of the trading system for theses carbon emissions reduction certificates in December 2023 when it announced the readiness of the systems to trade these certificates. This was done through the “Egypt Information Dissemination” Company (EGID) - the technological arm of the stock exchange. It also developed the system for settling transactions through the “Tasweyat Clearing Services Company.
He added: "I feel proud of the success of the staff of EGID company and Settlements in developing the trading and settlement systems."
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