Press Release on the status of cooperation between EGX and Borsa İstanbul

Borsa İstanbul and Egyptian Exchange signed a memorandum of understanding on June 22, 2012 as to develop a framework of connectivity between the two markets. Both exchanges have duly embarked on the connectivity project and recently finalized its technical components. Market readiness, however, is a pending issue since brokers from each end need to commit resources through bilateral agreements. A site visit in due respect was organized in Cairo to ensure interaction among the brokers.

Given the latest development in the political landscape, there will be a delay in the project implementation timetable. Both exchanges will remain in touch to assess the status on a regular fashion.