Egycomex will launch with only wheat as a tradeable commodity
By Staff Writer, Arab Finance
ArabFinance: The Egyptian Commodities Exchange (Egycomex) is expected to start trading by the first half (H1) of 2021, yet the company aims to have the exchange running in the first quarter, Chairman Ibrahim Ashmawy told Al Borsa News on October 27th.
Egycomex will launch with only wheat as a tradeable commodity, to be followed with rice, sugar, and corn, as well as steel and cotton, according to Ashmawy.
The board of directors has been formed with the Egyptian Exchange’s Chairman Mohamed Farid appointed as the deputy chairman of Egycomex, Ashmawy added.
He noted that Egycomex will be headquartered in New Cairo.
The official confirmed last September that non-food items, including gold, would be traded on Egycomex.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.